News about RadioHead selling their new album directly to the public, without a record label, is just the tip of iceberg with Madonna doing the same thing: And The Walls Came Tumbling Down: Madonna Dumps Record Industry:

"..The only real question now is how fast will the music industry model come tumbling down. When Radiohead led the way in offering their music directly to fans many predicted that the move was the beginning of the end; Madonna may well be the tipping point from where we will now see a flood of recording artists dumping record labels and where today's model will shortly become a footnote in Wikipedia."

The moment could not come too soon, as far as I'm concerned, as I fail to see what value Record Labels bring anymore - to a performer.  If anything, the Record Label seems like more like a parasite than anything helpful - but that's just my opinion.