Well, I picked up my Radiohead CD today. It came via email as a link to a zip file of 10 160kbit mp3s. I was hoping for at least 192 or better, but the sound quality so far seems OK. I'll reserve judgment until I listen with headphones though.
As for the album itself, it's interesting. Not my normal genre, but fits with my mood recently. It's kinda mellow, kinda noisy, a little punk and a whole lot of experimental.
It's a good listen and if you have a spare pound or zero, you can get it yourself from their web site for whatever price you name.
I paid £2 for my copy, which after processing fee and exchange rate turned into $4.95. I chose to pay that on the assumption that they only make a buck or two on a regular CD. I wanted to pay them more than they get with a CD, but not pay more than half what I could buy it on iTunes. Time will tell what people really paid and how much they make with this model. I really hope it works out.