Apple has created a new section on their website to give a better breakdown into how the new iTunes Match service works.
With iTunes in the Cloud, the music you buy from the iTunes Store automatically appears on all your devices.1 And for music you haven’t purchased from iTunes, iTunes Match is the perfect solution. iTunes Match is built right into iTunes on your computer and the Music app on your iOS devices.2 It lets you store your entire collection in iCloud, even music you’ve imported from CDs or purchased somewhere other than iTunes. When it’s in iCloud, it’s available on all your devices. So you can enjoy all your music anywhere, anytime — on your iPhone, iPad, iPod touch, Mac, PC, or Apple TV.
Ally has already put together a great How To on getting started with iTunes Match, but in case we missed anything, it's good to know that Apple has something setup that TiPb readers can fall back on. Check it out via the link below.