What's with the retro iTunes icon?

Now that iTunes has had a full version update, and the commercial side of iTunes is officially called "The iTunes Store," one would expect to see a new application icon. I sure was surprised to see the blue 8th notes over a CD...haven't we seen this before? Oh yeah, it was essentially the icon for iTunes 2.0. Odd.

I was wondering if Apple would abandon the musical notes all together and come up with something completely new, but they went the retro route instead. I guess I like it.