The Album's Not Dead Yet

One of the panels that I missed this year at Bandwidth was on whether we had lost the art of the "album." Preparing to review Beck's Modern Guilt today had me digging back to a 2006 issue of Wired where he discussed the future of "the album":

There are so many dimensions to what a record can be these days. Artists can and should approach making an album as an opportunity to do a series of releases - one that's visual, one that has alternate versions, and one that's something the listener can participate in or arrange and change. It's time for the album to embrace the technology.

Today, at New Music Strategies, Dubber writes that the album isn't dead but that "we’re going to have to redefine our notion of what constitutes an album."

What are your thoughts? Is it dead? If not, what constitutes an album now?