Want Radiohead's new album? Name your price!

"In Rainbows," the latest album by consummate alt rockers Radiohead, is garnering attention. Unlike with the now legendary OK Computer, however, it's not for it's musical brilliance. In fact, the album isn't even out yet. Instead, Radiohead's getting press because they're letting you name your own price to buy it.

Aside from the obvious pricing mechanism, Radiohead is innovating in several other ways. First, the album is only available for digital download on the band's website. Second, the album will be DRM-free. Third, the band is bypassing the traditional gatekeepers of music, the recording industry.

Like Prince's July 2007 scheme with his latest album Planet Earth, Radiohead's actions are likely to anger an industry exec or two. But should they be afraid? Might artists be able to bypass them altogether and get their music out to the masses? Will such promotions only work for musical demigods like Prince and Radiohead? What do you think?