Napster tunes up $5/month plan for unlimited streaming, 5 MP3s

The Best Buy-owned MP3 music store throws down the gauntlet with a super-cheap subscription plan, which includes unlimited streaming tunes as well as five "for keeps" MP3 tracks a month. But in the age of free music sites like Pandora and Slacker, is even a mere five bucks a month too much?

Napster reps sent out a press release early this morning describing the new $5/month plan (set to go live later today), which will serve up unlimited, full-track streaming from the site's catalog of seven million songs (in "CD quality"), along with five free MP3s a month, more than 60 streaming radio stations (sans commercials), and 1,400 "expertly programmed" playlists.

Five bucks a month for unlimited streaming stacks up pretty well compared to Rhapsody's $12.99 streaming plan (which doesn't include any "for keeps" MP3 tracks). There's also the $14.99 Zune Pass service, which includes 10 "free" MP3s and lets you transfer subscriptions tunes to your Zune for on-the-go listening. (Rhapsody has its own $14.99 "to go" subscription plan, as well.)

Then again (as Digital Music News points out), even five bucks a month seems pricey compared to free music services like Pandora, Slacker, and Last.fm, which let you create instant streaming radio "stations" based on the songs and artists you choose.

Back on the plus side for Napster, though, is the fact that you can pick and choose exactly which tracks you want to listen to—and given that you get to keep five MP3s (which typically go for about 99 cents each, variable pricing aside) for $5 a month, you're essentially getting free Napster streaming.

So, what do you think; interested in Napster's $5/month unlimited streaming plan, or will you stick with free music sites like Pandora and Slacker?