For me, it was the saddest break-up I went through last year. Jay-Z and Def Jam parted ways. What would become of Hova? Actually, I wasn’t too worried about that - the winner is always Hov. But what would happen to music if Jay wasn’t in the game (at least in an executive capacity)? I kinda lost it, but the holidays have that effect on me anyway. Then today this rumor starts floating around that Jigga might be teaming with Steve Jobs and Co. for a record label. Without rehashing what’s already been on many a blog today, I will offer what could be the good the Good, the Bad and the Ugly (OK, maybe just the Good and the Bad) about this deal. If it goes through. You know, maybe. Behold:

The Good:

• Jay-Z’s an artist who knows talent when he sees it, and artists trust him in return. Without him there would probably be fewer Kanye Wests in the world. Keeping him in the industry means better music for everyone.
• The label could be all-digital and probably be DRM-free. Whee!
• Steve Jobs and Jay-Z have two things in common already: They know how to give people what they want and really enjoy making money. One good businessman deserves another.
• Finally being able to get American Gangster on iTunes. Maybe.
• It would probably annoy Jay’s old bosses at Universal Music Group.
• Jay-Z used to sling yay. Mac is the new crack. Jay could push those coke-whites without question.
• The thought of Steve Jobs ballin’.
• The thought of Hova geekin’.
• Seriously, you need more than that?

The Bad is after the jump.