There's been so much chatter about Apple iCloud that you'd think the streaming music service had already been announced and the deals inked. But it's still just a rumor until an Apple executive takes the stage and unleashes the Amazon Cloud Player and Google Music competitor in a spate of superlatives. That hasn't stopped Businessweekfrom stepping up with a good summary of all that is "known" thus far, while giving us some insight into the particulars of how the service will work and the motivations to make it happen. One revelation, sourced from three people in the know, claims that Apple will scan customers' iTunes libraries (hello, LaLa) and quickly mirror the contents on Apple's own servers -- no massive DSL-choking upload required. And Apple will do you the solid of "replacing" any low bitrate tracks with the "high-quality" versions it stores in its fully licensed music locker for streaming to your connected devices.
