After midnight Eastern tonight, Apple let its own cat out of the bag to go along with Microsoft's announcement of Surface. The Mac OS X Software update brings iTunes 7.2, featuring support for DRM-free downloads off of the iTunes Store, what Apple is calling "iTunes Plus." The update notice mentions this support from "participating labels" (does EMI have friends in its DRM-free world?), and then the help file goes further, as noted by MacRumors:
Perhaps there's hope for converting my library of FairPlay-encoded files to come back to life. We can only hope. Tomorrow's going to be exciting. Stay tuned...