I happened to Stumble Upon this cool online music application today.  JamStudio.com is a very cool site where you can mix audio loops and not have the need to know how to read or write music.  I have already wasted a few hours on this site.  If you are a music fan you will have a great time with this.  JamStudio allows you to save your music projects and even includes code to place a player on your MySpace page.

Choose the Key you want to play the song in.  If you don't know how chords sound don't worry, you can experiment all you want!

This is the master library with various instruments which include guitar, bass, drums, piano, electric piano, organs, etc.

You can choose what key the song will be in from the virtual acoustic guitar.

You can also save your musical creations and email them to your friends.  The sound quality of the virtual instruments is surprisingly good.  This site is so cool!