iTunes 7 DRM Already Cracked
It's only been a day since Apple updated iTunes to version 7, but the folks over at the Hymn project have already posted a new version of a program that can be used to remove the DRM from songs purchased from it. It's an updated version of the recent release that worked with iTunes 6.
I confirmed that the new 2.3 version of QTFairUse6 works fine for converting one iTunes 7 song at a time, although apparently the function for batch converting an entire library of purchased songs doesn't work. In order to convert a single song, you'd just drag it from your iTunes Music folder onto the QTFairUse6.exe file and enter "Y" in the DOS command line interface that pops up.