Ars answers What you need to know about iTunes Match. "If you don't renew the yearly $25 subscription, your iCloud store goes away. iTunes purchases will still be available to all devices, and anything that you have downloaded from iCloud to you devices you keep. This includes iTunes Plus versions you have chosen to replace older, lower quality rips in your main iTunes library. Apple explained that replacing those lower-quality rips is optional."
I'm impressed.
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