This is a great idea but what about copyright?, not wanting to rain down on this but what would be stopping people ripping your tunes and then trying to pass them on as their own?
I know of two protection methods but they are costly ( smcd and digital watermarking music) but for the average person the cost of this to do is huge and well outside the means of most of us.

And now with http://www.mp3.com shutting up shop and the RIAA lawsuits they are dishing out to everyone I reckon things will get harder but people like Apple ( IPOD) and some respects Microsoft are going the right way about it, charging a small fee so you music can be downloaded but I dont know if they would want to take the route of techno ( basically it boils down to a numbers game at the end of the day) so
yes, great idea, gets the music out there to a greater potential market but you will have to protect yourself bigtime.

peace love and happiness y'all

Dez