Wanna know how the record business could save itself, pay artists, and eliminate piracy easily?
Simple. Make the Internet Service Providers the point at which a download is counted.
Whether you buy from itunes or steal from Bit Torrent, an Internet Service Provider, or ISP, brought the music to you. The ISPs know what was doanloaded, and will never have to reveal it, but make the ISPs pay into a royalty pool managed by an independent third party.
Also, their "final note" - that KITT (of Knight Rider fame) is being sold. Only $150K, if anyone wants to make me a loan...oh, and another Knight Rider movie is in the works...