I know some people in here have complained about the quality of downloads but this is what you may have been looking for.
Play.com offering DRM free tracks at 320kbps and at 65p.
However, that still works out a bit more than buying the actual full CD - if you want it all, and then you don't have to assemble it like a piece of IKEA flatpack furniture.
EMI only for now, but its surely a step in the right direction.
