The new icon is OK, it looks more professional and smooth. And almost everyone is buying songs from the iTunes Store or other websites (like RealPlayer's Rhashody and I think Windows Media Player has one too), not buying CDs and ripping them. It makes sense to take out the CD.
But I don't use iTunes 10, I still have iTunes 4 on my iBook's Mac OS X system and 2.0 on my Mac OS 9 system. 😀😀😀😀