Apple has informed its iOS developers that it intends to reset iTunes Match beta accounts on Thursday October 27. Apple states that this is intended to improve “overall quality and reliability” of the service. Resetting iCloud data is nothing new as it has happened a few times during the iOS 5 and iCloud betas.
iTunes Match was announced as part of iCloud and is Apple’s version of a music locker service. For $24.99 a year, iTunes Match will scan your desktop iTunes library, give you a 256-bit AAC version of every song it finds there that’s included in the 20 million strong iTunes catalog, and let you upload any songs (at the original quality) that aren’t.
It still appears that the service will be US only at launch due to licensing deals. Hopefully Apple is working hard to resolve these issues; then the reality of cutting the cord can be fully realized by everyone. Apple did say at the "Let's Talk iPhone" event that iTunes Match would be available at the end of this month; so it is expected right around now!