If you're a truly brilliant artist then you should have brilliant albums, one's that i can listen to fully in one go and appreciate not only for their music but other factors such as a message or concept or the artwork, etc. Even some of my favourite albums have tracks i don't like but it doesn't matter because it takes nothing away.
As far as i can see the album format isn't sacred so much as it is necessary. If you take them out of the equation what do you have? Bands continously releasing singles or releasing single songs off of their website? It's impractical and a certain specialness is taken away.
I think this only really applies to 'proper' music fans though. I'm sure loads of people are happy with Limewire and an Ipod.
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