Some interesting points raised http://www.hypebot.com/hypebot/2010/10/making-music-cheaper-than-coffee-wont-devalue-it.html
My personal view is that the value of a file is the cheapest place you can get it (and if that's free, that becomes the value). However, recently I've paid money to get tracks I already have or have access to stream, to get them in higher quality. Plus I always buy deluxe editions and 12" versions of records I love and I'd never give a download as a gift, so I guess whatever I purchase is usually a gift to myself...
How do you feel about the value of music? Are $1 albums in the US a good idea?