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The Death of High Fidelity
You have to spend AT LEAST $5.00 at a time at the Zune marketplace - i.e. you can't just buy a song - you have to buy a block of points - a la xBox live. This scenario may work for gamers, but I don't see it toppling the mighty iTunes delivery - $0.99 per song.
These are just a few of the things that will hold back the Zune. It's a decent player - but there are hundreds of decent players out there and, still, only one iPod. Some would say that Microsoft currently has the upper hand in the hardware. But marketing, ease of use, storefront, and appeal are still well in Apple's corner.