One of the most exciting, and still somewhat exclusive on the interweb is Turntable.fm.

I say exclusive only for the fact that the site is still very much in early beta and, actually, as I write this post, the site has gone down for maintenance to fix some lingering bugs.

When the site is up, however, it is one of the most ingenius means of enjoying music and interacting with others on the web that I’ve seen in a while.

What is Turntable.fm? I define it as a socially engaged music streaming service. By socially engaged I mean that there is an aspect of gamification integrated with the site – you can’t just stream music to yourself, like Pandora or Last.fm, you actually have to have atleast 1 other DJ in your room spinning tunes as well.

There have been a couple of great posts written already talking about the WHAT of Turntable.fm. Peter Kafka from AllThingsD wrote a post last week bringing up the potential fine legal line that Turntable.fm is treading and a interweb colleague of mine, Ken Yeung wrote a very informational post earlier today, on his blog TheLetterTwo.com, talking about the future promise of the site.

I was on the wait list for a few weeks and finally was able to access the site this past Friday. This past weekend I spent way more time that I care to admit, spinning tunes and meeting other music lovers online.

Here’s how I’m using the service.

After logging in, you can either select to create a room, join a random room or, if you’ve already created a room you can search for that on. In my case, I’m the moderator of the INFOtainment room so I immediately head there.

To get the music playing I will send out a quick Tweet or Facebook status to let folks know that I’m DJing:

After someone joins – the party gets started ! We’re selecting music from our favorite artists and adding songs to our DJ queue. One of the things that allows Turntable.fm to exist is due to a slight loophole in the DMCA guidelines that allows both Turntable.fm and Pandora to operate as an “non-interactive web radio service. So even when you select an artist and check off the songs you want to spin, everything will actually play in a random rotation.

The ability to upload music is quite interesting as well. I haven’t tried that aspect yet, but giving how much time I’ve spent on the site in the last 48 hours I’ll definitely be trying all the different settings out.

There is so much potential for this site, that has really only been available for about 1 month. The whole gamification aspect brings about the opportunities of competing against other users and gaining badges, recognition, rank on a leaderboard, the future ability to embed a Turntable.fm DJ Room inside a blog is what I’m looking forward to (so hey Billy Chasen, when you’re ready to open up the platform to publishing partners let me know !!)

How about you? Are you on Turntable.fm yet? If you need an invite let me know in the comments below and I’ll see if I can take care of you. In the mean time, those that are on the service – head over to the INFOtainment Room and jam with us !!