I downloaded it for my PC, out of curiousity, and I still have mixed feelings on it. It's great at some things - like ripping/burning CDs, and the layout and useablilty are great. However, it takes forever to add a directory of songs to the library (as compared to loading a directory in Winamp 2.x) and this is an inconvenience for me, since my collection is always in flux.
I suppose I could use the iTunes Library, where it catalogs them automatically and sticks them in directories, based on the id3 tags, but this sometimes makes music harder to find when i need it in other applications. I'll contemplate this move for a while before I do it, that's for sure...
The other really nice feature is that it automatically finds people with iTunes on my school's network, and lets me view and stream anything in their collection (well, anything that wasn't purchased at the iTunes music store). This is nice, because I can look for new music to d/l or just play some new stuff while I work.
Overall, I give it a solid B+. I'm still debating between it and my old, dependable Winamp 2.x