I'm also not sure about Ping in general. There's soooooo much potential here, but there's a lot that needs to be done. I'm surprised there's no way to quickly scan your iTunes library or pick favorite artists (more than just the 10), in order to build up a music "profile." I would love if it they took some great ideas from Last.fm, like showing musical "compatibility" and whatnot.
I agree. I don't really give a crap about that old Nine Inch Nails album I bought in high school, yet "Genius" loved suggesting crap based on it. You'd think Apple would actually use the metadata that's in iTunes -- you know, the "last played," "most frequently played," "star ratings," and all that -- in order to inform its decision. Wouldn't my friends rather read about my 5-star songs? Assuming I have friends that have all of their music digitalized and in iTunes, of course.