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.For the record, I believe this specifically affects streaming via 3G to external speakers via aux input. Everyone on various threads saying their music sounds fine needs to confirm that they are OK with the bold setup above -- no bluetooth, no wifi, no local mp3s, etc.
While the music is tolerable, I agree that there is a lack of bass and a general tinny sound to the midrange, especially vocals when listening via the aux input on my car stereo.
Nope, has nothing to do with external speakers or anything else.
For christs sake, i linked to the official bug report, please read it.
Android 2.2 is INCAPABLE of properly decoding AAC+ - any music or sound application that uses files in this format will suffer this issue, no matter what.

Its really a buzzkill...