Agreed, it will give you fodder for your personal statement, and it probably won't hurt your marketability--then again, it probably won't increase it that much. Analysis of musical compositions is done by experts. Typically, the firm you work for will need an expert opinion that is not from its own attorney.
Oh I am sure that it won't help all too much in the marketplace, but it could help my PS and help get me into a better school which WOULD help my marketability... Plus, I am not 100% sure I want to do IP - I won;t make THAT kind of decision until I take classes and decide what area of law I like best. Plus, I am thinking of doing a JD/PhD in musicology just to "finish what I started" in my masters.
That may be true, if your PS has any impact whatsoever (which it probably won't). Also, you weren't discussing your marketability vis a vis your school rank; you were discussing the use of your skills in litigation(Re: "I'm completing my graduate degree in musicology and hope to use the skills I've learned (analytic techniques, comparative analysis, etc) to work on the cases of composers/artists in litigation over people stealing their music (in the Avril Levine case, both sides are paying big bucks to hire musicologists as experts)").
That's the discussion to which I was referring.
To address the other poster: Also, you don't need to sit for the patent bar to practice IP, or even to practice Patent Litigation (although I suspect that you were just referring to "hope" in the sense that people who don't take the patent bar will have a harder time breaking into the IP scene).