So ... you're not in Texas, you didn't get tickets to Coachella before they sold out, and you're kind of bummed. Hypebot has a nice roundup of ways to catch audio and video coverage of the South by Southwest, including a 3 Gig cache of music from SXSW that you can bittorrent.
For those at the festival and wondering which new fancy Web 2.0 instantaneous mini-blogging tool to use ... Cnet says it's Twitter by a mile over the classic Dodgeball. Basically Twitter is a minute by minute tool that broadcasts your whereabouts / happenings to people on your list over text message and website. So if you happen to be adjacent to some famous Texan rapper you can text everyone "OMFG Devin the Dude is in the stall next to me!!!111!!!" or what have you.