It's worthwhile to highlight that Apple could also claim trademark infringement; customers seem to associate the white background and air guitar w/ Apple.
Because Buymusic is trying to sell music along with Apple, I envision they'd have a very difficult time claiming parody; their aim isn't a comment on apple as much as an effort to earn money. I haven't seen the ads, but I doubt they have a strong argument along the comparison lines either.
What buymusic really needs is a reason that they aired similar ads. For their sake, I hope they have market research that indicates (pre-Apple's version) that these would be good ads, because, imho, they seem to have chosen this to trade on the goodwill that iTunes has developed, and that is exactly what trademarks are designed to stop.
-Dave
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