What happens if, after a year, you decide not to keep iTunes Match? Does it take away the stuff that you downloaded from iTunes Match? Or does it actually let you keep those files?
It does not remove those files from your system. It will remove all of your uploaded (unmatched) content from their servers and kill your ability to download future matched songs.
What I'm using it for is upgrading ~1500 songs. Moving from mp3 to AAC, and everything to 256kbps. It will also allow me to easily download songs to my work computer that I have at home and want to listen to.
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