"YouTube has launched Disco. From TestTube - the GoogleLabs of YouTube - it's like Pandora lite with videos. Create and share playlists, or just search for an artist and see what it comes up with."
Could YouTube be the new iTunes? I'm not so sure about that. But Disco does have some cool features.
View full music videos for free, browse organized artist pages, and create playlists to share with others. Plus, you have the option to purchase songs via Amazon. However, it appears you cannot purchase videos for download, which nixes the option of uploading to a portable device (though there's always methods to getting around that problem).
Essentially, Disco provides a new, easier way to navigate the giant mess that is YouTube. I like being able to view everything Lil' Wayne on one page...