I found this to be interesting, because Radiohead has previously had bad things to say about the iTunes "one song" model:

"None of us want to go into that creative hoo-ha of a long-play record again. Not straight off," said Radiohead frontman Thom Yorke, in an interview with the Believer. "I mean, it's just become a real drag. It worked with "In Rainbows" because we had a real fixed idea about where we were going. But we've all said that we can't possibly dive into that again. It'll kill us."

That's probably due to this:

According to Nielsen SoundScan, sales of albums were down by 14% in 2008, but individual tracks broke a sales record, surging 27% to break 1 billion units sold.

I think we're going to end up looking back at the album era as something of an outlier. The 50's and early 60's were mostly about 45's; now it's swung back to the model, even though the technology is very different. Personally, I can't recall the last time I put an album on - even when I'm in the mood for a specific artist, I'll shuffle the various songs I have from them.