It appears I was right.
DRM-free, 256kbps tracks from EMI for $1.29. You’ll still be able to buy the DRM’d 128kbps tracks for $0.99. You can upgrade tracks you already bought fro $0.30. Complete albums will still be $9.99 for the DRM-free high-quality version.
This is an interesting move. I’m surprised they’re offering both formats, but I’d pay the extra $0.30.
Apple, you’ve got a new customer on the iTunes Music Store. (Me.)
Steve Jobs also said that Apple will be offering this to all the other record labels, and that he expects to have over half the library of the iTunes Store in this new format by the end of the year.