Buy and Sell Used MP3s at Bopaboo?

The p2pnet post and it begins with "Could a new site buying and selling ‘used’ mp3s possibly be a honeypot set up by the RIAA?" I am reading it and, in the back of my head, I am thinking if this "is some kind of hoax?". Bopaboo, as the author makes known, is a real web site. My next thought is "Are they serious?".

According to their About Page;

"bopaboo is an online marketplace allowing consumers like you to legally sell your unwanted music and buy DRM-Free digital music from other consumers like yourselves."

I was intrigued enough to take the tour. It appears they are serious. Is this site going to survive any longer than a quark? Is it a honeypot? Even if not, how is it not a target?

I also spent some time reading over the terms of service. You, more or less, are promising your uploads are legal. You are assuming responsibility. That should not surprise anyone. Is that enough though? Will that protect bopaboo from any liability if it is not a legal "used" mp3?

Hey, if any of you are members of this service, give us all some feedback with a comment. I am going to sit and watch what happens with this service.