Choose your own CD price

PadRacerExtreme writes: Radiohead has announced it will let its fans decide how much to pay for its next CD according to a NY Times article. The minimum price is 1 British penny and there is no maximum price. From the article

This is what happens when you sell twenty dollar CDs with one good track and sue your customers for [file-sharing]. This is what happens when you believe you're ENTITLED to your business. This is what happens when music is a second-class citizen only interested in the bottom line.

So, will it work? or will everyone just pay a penny? Or is a penny still to expensive?