Steve Jobs announced Apple’s forthcoming iCloud service today. A lot of the functionality already exists in other applications (Dropbox, Google Docs, etc) and the music service is similarly unspectacular.
Basically, music purchased from the iTunes store will be able to be synced from the “cloud” across multiple devices. But what of the music that I ripped from CDs I own that is now in my iTunes library? Sadly the iCloud music “service” is barely that.
UPDATE: iTunes Match delivers this functionality. The recorded music biz is now officially a nickel and dime game. Good for owners of aggregated content, bad news for creators.