I found Meg's post very interesting as I am an avid listener of all types of music and therefore one of apple's many customers. Although I can't remember the first CD I bought, I do remember that my first cassette was Michael Jackson's Dangerous.
In terms of YouTube being the new source to promote to music I am already seeing this happen. This year at "social gatherings" around BC, people are using their own iTunes' libraries for some of the music but mostly the music source is a laptop playing a video on iTunes. It's kind of nice because that way people at the "social gathering" can pull up any song they feel like dancing to without having to have the host pay to download it first. That being said, it gets music heard and therefore may influence some attendees to purchase a song they really liked--myself being one of those purchasers.
The one thing that iTunes still has over YouTube is that you cannot download the YouTube videos to an iPod...yet.