They're calling it "the Firefox of media players." Which is catchy. A lot catchier than "what iTunes could have been were it not linked to the evil that is the iTunes Music Store." Although both descriptions have their particular charms. But not as charming as the Songbird mascot, which appears to be a flatulent sparrow.
If you want a good description of the features (built-in Last.fm scrobbling, custom add-ons, concert ticket link) then I suggest reading the article on Webmonkey. But if you were the kid who played the game before reading the instructions, then here's the link to the download on the Songbird site. You'll notice that the player is still in beta. This is just geek talk for "we're not done yet."
Personally, I enjoy the graphic of the Songbird player (on both Webmonkey and the Songbird website). It displays a library filled with the likes of Fugazi, Fruit Bats, and Gary Numan. What does that mean? It means the developers listen to whip-ass music while creating a whip-ass player. Go team!
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A little behind the scenes fact; this release was code named Fugazi. The album cover is a nod to the namesake.