I predicted that Apple would announce their premium, DRM-free tracks yesterday, since they tend to do music announcement on Tuesdays. I was off by a day: Apple Launches iTunes Plus
I logged into my iTunes account to check it out, and only four of my purchased songs are on participating labels (3 of which were by Coldplay). So, upgrading my library at this point was $1.20.
Today is the start of real competition in the online music and music player space.