On the one hand, it's clear that the p2p phenomenon will not stop, and that things will never go back to the way they were. Once web-surfers started sharing song files – they wouldn't agree to buy entire albums the traditional way, certainly not as a sole alternative.
On the other hand, we should all be concerned about illegal downloads of songs by good artists, who deserve to make a living off their music. The artist's livelihood is very important to his or her future work, too, regardless of the entire music-industry "food chain", most of which takes away part of the artists money as well.
So here is a simple solution – right to the point: downloaded anything? Pay!
The principle: if you downloaded several of the artist's tracks, pay them as much as you think they are worth. We will forward your sum directly to the creator.
When will the artist get the money? Any time he or she may want your fee, it can be fully received, apart from a 2% commission I keep for myself, for the work involved in running the funds and marketing.