About to be obsolete, again, old friend?

Another in a long line of discoveries that will eventually make multi-terrabyte drives as antiquated as single digit megabyte drives are today. Will they stop when every song, video, book, video game and Britney/Paris/Lindsey photo ever made can fit on a drive and still amazingly have room left over the next version of Windows?

Racetrack’ memory could gallop past the hard disk

An experimental breakthrough that could dramatically increase the capacity, speed and reliability of computer hard drives has been announced by an international team of physicists.

Guido Meier at the University of Hamburg in Germany and colleagues used nanosecond pulses of electric current to push magnetic regions along a wire at 110 metres per second – a hundred times faster than was previously possible.

By contrast, today’s hard drives rely on the much slower spinning motion of a disk to move magnetic regions – and the data encoded by these regions – past a component that can change or “read” this magnetic information.
[...]
In his device, a U-shaped magnetic nanowire is embedded into a silicon chip. Magnetic domains are then moved along the wire by pulses of polarised current, and are read by fixed sensors arranged in the silicon itself.

According to IBM, this type of magnetic memory could vastly simplify computers, and eventually replace all hard-disk drives.