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Something I noticed while running the new version the first time: http://www.flickr.com/photos/johanhalin/4556877903/

In other words, uncheck that if you don't want Spotify modifying your tags in your audio files.

Definitely uncheck that button :) I had some jpop tracks in my library that turned automatically into this http://twitpic.com/1iuk5k.

You can actually select all your local files than choose 'undo gracenote changes' from the right-click menu