Do you prefer this quick concept ? (And what about the typeface ?)
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Hmmm..hard to say from just this shot (I can't get much of a feeling for how different areas work together from just one screenshot), but I'll try.
This font is better, but I personally prefer the soft, unbolded "lowercase" Xbox Music/Music + Video font--completely an aesthetic choice, I just find them easier to read quickly. I do like the "banner" art combined with the album art as a full line, it's not as space efficient as Xbox Music, but it looks really good! Plus, maybe that'd be a great solution for a live tile, as oppose to the mess we have currently with non-selectable Album Artists--you could have a "blurred" album art with the artist or album name going by. Just a thought!
I don't care for the "unfilled" letters (like "ALBUMS") or the icons. That's just a personal choice. I'm being incredibly nitpicky, but that's my feedback, for what it's worth.