I don't know if it exists, but some site dedicated to new artists to share their music with the masses, sort of like they do with open source, would be nice and I feel would get them some attention.
"One of Radiohead's most recent record releases, In Rainbows, was available as freeware -- pay as much as you want to -- digital download, with more than 1.75 million copes sold of the release."
I think that is a great idea and I think more should do it. If their album sucks, I don't feel like I lost anything on it. However, if it was good, I would give them something for it. This would also keep crap out of circulation because now you have to produce something good or else.