Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
I think its supposed to show the song youre currently playing in iTunes as your status. I dont know for sure, because i havent explored that function yet.
 
Yeah, you're right, it shows what you're playing in iTunes to people in your contact list. That's it. iChat has had that for a while, it's a nifty feature.
 
It doesn't work for msn at the moment though. I think it will if they get Personal Messages sorted out.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.