Project Playlist Pushes The Line Between Music Search And Music Hosting

If there is a poster child for the battered Web music startup, Project Playlist is it. The company had to fight lawsuits from the record labels, is still trying to iron out licensing deals with those labels, lost its last CEO Owen van Natta to MySpace, lost its CFO Mike Sheridan, and by the looks of it is losing its audience. What else could go wrong?