One good point about the forums is, sound doesn't travel over them very well...
When I say meta, meta data, or post meta (how it's referred to in WPland) just think "anything I enter in my custom fields". It's considered meta in a narrow sense, but that sense means: what you enter in custom fields can be anything you want. You choose what they are, decide what they represent, control how they're used.
Meta. Custom fields. For this little discussion, they mean exactly the same thing.
Being that what you enter in custom fields can be anything, this makes them harder to use than if there was a few buttons to press and your current playlist or library holdings displayed on your blog. Part of the reason for this is, not everyone uses the data in custom fields for displaying information. The only real limit to their use is, each custom field entry is tied to a specific post.
Now, a key question I think will cut through some of the confusion: Do custom fields fulfill what you're looking to do? What I mean is, do you need to relate those things with a specific post? If there's a historical purpose, such as keeping track of when you were listening to a song or reading a certain book, perhaps it does. If not, then maybe something outside of the standard WordPress toolset may be in order. Something like this plugin:
http://www.matt.blis.co.uk/archives/2004/12/02/mystuff-plugin-02-released/