Apple recently released iTunesLP with which "the visual experience of the record album returns". Today, I've purchased the first iTunesLP (btw. 1st iTunes music thing ever!) to see what's behind this 'new format' and whether it can be considered as a digital item (as defined by MPEG-21). The album in question is "The Doors: 40th Anniversary Mixes" and comes with the regular media files which are placed in the regular iTunes directory structure. However, it also comes with a .itlp 'file' - at least this is what Mac OS X finder shows (cf. figure below).
So, is the iTunesLP a digital item? - Yes! Is the iTunesLP compatible with an MPEG-21 Digital Item - No (it is not compliant to MPEG-21) / Yes (it can be realized using MPEG-21). Additionally, MPEG-21 provides means to package a Digital Item into a single file and it is interoperable.