Did anyone read the Terms and Conditions agreement? This is a quote from section 5c.
c. By posting Content on any public area of MySpace.com, you automatically grant as well as represent and warrant that you have the right to grant to MySpace.com, an irrevocable, perpetual, non-exclusive, fully paid, worldwide license to use, copy, perform, display, and distribute such information and content to MySpace.com and that MySpace.com has the right to prepare derivative works of, or incorporate into other works, such information and content, and to grant and authorize sublicenses of the foregoing.
Not to get too paraniod, but doesn't this say they can use your posted pictures and songs however they want? Maybe this doesn't matter anymore. It took me a long time to take my own work seriously and consider it valuable, so I guess I think we all should. Just my own paranoid thoughts. YMMV.