As far as formats go, MP3 has managed to hang around for an impressive amount of time. To date, we've yet to see another digital audio file garner a similar amount of support (though ATRAC had a fighting chance!), but it looks as if an alternative from BACH Technology could be gunning for that crown. The new proposal is dubbed MusicDNA, and contrary to what you may expect, Dagfinn Bach -- who tinkered with the first MP3 player back in 1993 -- is all for it. Much like iTunes LP, the new format would include "lyrics, videos, artwork and blog posts, which [would] continually be updated." We're told that pirated files would still play back (as in, DRM shouldn't be an issue here), but none of the aforesaid updates would arrive. Currently, no major labels are onboard with the idea, but the company has suggested that the initial response has been pretty positive. Too bad it'll never go anywhere without a recognizable online storefront, but hey, we're rootin' for you over here!
Update: The musicDNA used in the currently available musicGPS iPhone app is something completely different. Who knows if this will lead to a scuffle over naming rights.