Yes! Hopefully get to stream all my content from Apple's servers! That way I don't need to worry if my media storage disk crashes again! (Luckily iTunes Support was nice and let me redownload all my purchases)
I wish Apple would let you merge an old Apple I.D. with Mobile Me. I have an old Apple I.D. that runs off a Gmail account that is no longer active. I dislike having to sign in with two I.D.'s to find update for my apps.