Apple today launched iTunes Plus. You can now download DRM-free music tracks featuring high quality 256 kbps AAC encoding for audio quality virtually indistinguishable from the original recordings for $1.29 per song.

iTunes Plus is launching with EMI’s digital catalog of recordings, including singles and albums from Coldplay, The Rolling Stones, Norah Jones, Frank Sinatra, Joss Stone, Pink Floyd, John Coltrane and more than a dozen of Paul McCartney’s classic albums available on iTunes for the first time.
“Our customers are very excited about the freedom and amazing sound quality of iTunes Plus,” said Steve Jobs, Apple’s CEO. “We expect more than half of the songs on iTunes will be offered in iTunes Plus versions by the end of this year.”
The iTunes Store features the world’s largest catalog with over five million songs, 350 television shows and over 500 movies. The iTunes Store has sold over 2.5 billion songs, 50 million TV shows and over two million movies, making it the world’s most popular online music, TV and movie store.
Via this Apple press-release.