Ping! Ping! Ping! We have a winner!
Apple is on a real roll today. On stage, Jobs has just announced the launch of iTunes 10. Since iTunes is on track to beat CD sales, they've changed the logo to a musical note in a blue circle. The UI has been simplified; in the album column, you will see a list of songs and if you have more than five songs from the album you'll see album art.
In order to help you sort through your music, Apple has introduced a new music social network called Ping. It is described as "Facebook and Twitter meet iTunes". It will allow you to see what your friends are listening to, which concerts they plan on attending, and what your favorite musicians have planned. It'll come built into iTunes under the Store.
You'll be able to follow your friends and create custom top ten charts of the music your friends are listening to. If you go to an Artist Page, you'll be able to see your favorite songs of theirs and their concert details. Follow them for a steady feed of information. You can allow anyone to follow you, or set your option to require approval for followers. Privacy is billed as "super simple" to set up.
iTunes users can sign up for Ping right now. If your friend posts a song, you'll be able to preview it with a click and buy it with a button conveniently set up in your feed. iTunes 10 is available for download now.