We've been touching on this on the Raglan Road debate, Sean. It's a four-pinter in its own right. How about a unique thread?
As for copyright, I see from my MU mag that the School of Law in Liverpool JMU is conducting research into the impact of intellectual copyright on music - including issues around the copyright of arrangements of publicly-owned songs (which may be eroded by Creative Commons Licence). So this debate is topical right now.