great news as we need something to happen to give our youf a decent music experience. We need some sort of rebadging to stop people thinking that MP3 is just a download of a normal CD track. The next problem is to get in front of a decent hifi.
I can't see apple commiting to much to this in line with our expectations though - their target market is iPod & iPhone users with limited storage. They might do 24bit, but I would be (pleasantly) surprised if they were of sufficient sample depth to qualify as 'hi-rez' by our definitions.
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I must be cynical, but I smell marketing...