On the 30th, news started to surface that someone had built a program which used iMovie for the Mac to convert songs purchased from the iTunes Music Store to regular MP3 files. This trick has been around for a while, but nobody's ever made it into an automated process.
I was excited to try the program, but found that I only received error messages. Today, I gave it a shot again. The first error message was from iMovie when trying to export the file back to iTunes for re-importing and conversion. I solved this by copying the preferences file for iMovie to the desktop, deleting the old one, and re-configuring it for use with FairGame.
This worked fine until FairGame tried to process files without album artwork, which it doesn't seem to expect. In theory, all files from the iTunes Music Store come with artwork attached, but I delete it on songs I don't have the entire album of. So, I may be out of luck until the creator releases an update (which I hope they will!), or the AppleScript source code. (or someone duplicates this)