Adaptive Streaming of HD Music...from Apple?

Thanks to reader Mr. T for pointing us to an article on MacRumors which points to an article in The Guardian that suggests Apple is working on adaptive streaming technology to provide iCloud users with high definition music as long as they have the bandwidth and hardware to handle it.
A source with inside knowledge of the process says Apple has asked a London studio to prepare audio files for a new streaming format that will adapt to bandwidth or hardware capabilities.

"All of a sudden, all your audio from iTunes is in HD rather than AAC. Users wouldn't have to touch a thing – their library will improve in an instant," said the source, who requested to remain anonymous.

This follows on the heels of the Mastered for iTunes document that asks for iTunes music submissions in 24-bit/96kHz format as well as Neil Young's statement that he had met with Steve Jobs to talk about Apple offering HD music downloads.

There are rumors circulating that Apple will unveil, or should I say unleash this new adaptive streaming HD music service at a press conference scheduled for March 7th. But before we uncork the libations and mourn the death of paying for crappy lossy files, let's keep in mind that this news appears to be largely speculative in nature.

Asked for comment, Apple said it "does not comment on rumour and speculation".
But if there's any truth to this story, and we just have to wait a week to find out, I'd say Apple should launch this new service by streaming their entire Neil Young catalog in HD.