Although it basically serves the same purpose as myspace, it is so much not like it that the entire wave of people on the myspace bandwagon should hop off as quickly as possible and totally embrace this fresh new idea on how these things are done. On a code perspective the site is designed with web standards in mind. If you know css, and html you have so much freedom in the design aspect of custamizing your own personal site that it's insane.
You can sink your flickr photo albums to your virb profile, you can upload your own videos and share them with the world, you are able to have a 15 song playlist, and a personal player on your profile that feature three of the songs on your playlist to share with your friends. You still ahve the blogging aspect, you can still creat groups, find your friends, and all that hoop-la!
Go to virb.com now, find your favorite bands, listen to their songs, watch their videos, get a list of their upcoming shows, and just JOIN!