BitTorrent is excellent. As with any P2P, you have the chance of getting infected, however most of the things I've ever seen on suprnova.org, or torrentbits.org are legit files (maybe not acurate to the description, but at least virus/spyware free).
BitTorrent is not good for the random song you just heard and want to download... at best you might find the entire album that that song is on. Kazaa, WinMX, Edonkey, things like that are still better for single music files. BitTorrent is great for movies, apps, etc (all things you legitimately own, of course ... just for backup purposes)
A trend I've been noticing a lot lately, is people posting up new movies ... only to find out they're in spanish, and not subtitled. We've essentially come to the conclusion that it's how people are getting around the copyright laws of the US, by ripping spanish (as in Spain) versions of the movie, and distributing them ... though I'm sure that's a violation of Spanish copyright laws (but is Spain as actively pursuing copyright offenders?)
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