I haven't tried it (don't use iTunes) but I haven't read much good about it so far.
What do you think of it?
ok, simply you have your own page where you display up to 10 albums that you either pick yourself or is auto-picked from your last purchases or your highest ratings...
In addition to that, you have a short description and a blog. I mostly don't give a rats ass about the blog, but in some cases it can be useful.
You also connect yourself to a list of contacts, and thereby have quick access to their album lists and blog.
currently, I'm almost connected to no one (I'm connected to Trent Reznor and Rhys Fulber and have sent a follow request to Stefan Herwig (he announced his Ping account on the Dependent forums), those are the only ones worth following that I've managed to find.
Trent (and all the other mainstream artists I've seen) have just picked the safest album list he could possibly find (that is, mainstream albums from the 80ies).
The album list iTunes chose for me when I signed up was, well, let's just say not very representative... but if people manage to have decent album lists, then I'm thinking that choosing the right connections and looking at what they listen to is a good way of finding more cool music.
and, well, some of the blogs can be nice to follow to, if people could just restrain themselves and stick to the subject...
The main problem now though, is that there's almost no one to connect to. And the connections suggested by Bing are useless... I think the service needs some time to be built up before it's any use...