In what seemed to be the most disappointing keynote by Apple, most of which featured upgrades to the iLife and iWork suites, the company has announced that effective immediately, songs available in the iTunes Music store will be DRM-free. Although this had been rumored for quite a while now, Phil chose to keep us waiting till the end of the keynote.

Of the 10 million songs available in the store from major music labels such as Warner Music, Sony BMG, Universal Music, Virgin, American Recording, EMI, 8 million are already available sans DRM in the store while the remaining 2 million would be made available by April. You should be able to seen an option to upgrade your music library at $0.30 per song, while music videos can be upgraded at $0.60 each. The songs would be high in quality with Apple’s DRM-free 256kbps AAC.

If that doesn’t set your pulse racing, Phil also announced that the iTunes Music Store would now be available over 3G too. Imagine access to 10-million songs, anywhere on the planet, on the go on your iPhone at 3G speeds. You can come back and dock your iPhone and the songs would be copied over to your library in iTunes. This too has already been put into effect, at the same pricing and quality as Wi-Fi, so you can start playing with your iPhone right away. (Sorry iPod Touch users!)

Another interesting aspect to this announcement was that, come April, Apple would implement a three point pricing on the songs. Depending on what the music labels charge, songs on iTunes will be available at 69 cents, 99 cents or $1.29. The albums seem to remain at $9.99.

What does this new freedom mean to you? Will you be looking through the Amazon Mp3 catalog or is it going to be iTunes all the way!