About this wiki
This page is intended as a wiki for all those who use audio on their sites, particularly music sites, to define and share best practices for setting up a great Drupal site using audio in different use cases. Acknowledgements to zirafa, gusaus and dublindrupaler for their groundwork in establishing the community and the discussion threads - whilst there's lot's of discussion about development and distributions, there's not a lot defining the best ways to configure audio today, and benefit from the road mileage we have have between us. Please contribute - BE BOLD!
Audio Nodes
Create a dedicated audio node type, for a single song, that stores information about that track using individual cck fields. These cck fields can be shared across other nodes to add more information. Avoid using node reference, because in order to use a node reference it implies an order of operations (you can't add a node that doesn't exist). Work things out on a CCK field level, not on a node level. Possibly even share cck fields across nodes, then try and use views to filter relevant things together.
This is just one approach. It is hard to generalize and create a single "best practice" because everyone has different priorities and assumptions. There are different tradeoffs so first decide what is most important, what are your assumptions, and then prioritize and make decisions based around that.
Audio Modules
Players etc
Audio
MP3 Player
Flowplayer
XPSF Playlist