Soulseek. hands down. Why download songs when you can get albums???
Torrents are good if your a member of OiNK or Demonoid or something similar but alot of the free torrent sites are pretty lame. Then again it also matters what kind of music your looking for. You wont find alot of underground music on the public torrent sites & limewire.

As for the moral issue of downloading music. If your music is good i will see you next time your in nyc, you can get your money then.