Perfect!!!!
Some items might differ from the ones in discos (e.g. not yet splitted entries) and this could serve as a great way to make a memo to yourself. And it can be used for prioritizing your wants. Great idea!

For me this is the most wanted new addition to Discogs.

I will personally add notes on my collection and wantlist mostly, but definetly would like an option to add personal note on ANY item on the database.

It doesn't make sense adding an item to my wantlist or collection just to add notes on it.

See http://www.discogs.com/help/forums/topic/154243

For online management of one's collection on Discogs there should be at least the following additional, personal/private fields for release pages:

Location
Value
Purchase Price
Condition
Notes

I don't understand why it needs to be divided up into fields like that elexxii, surely a free text field that people can use as they like will be fine? It is easy to format the data the way you like in one field, for example:

Location:
Value:
Purchase Price:
Condition:
Notes:

How about the ability for the user to add a limited number of fields and label them as needed. Each field could be free text with a 1000 character limit, or you could define some other simple field types like date / price / condition. Notes could be the default free text field, and then there would be the option to add up to 5 additional fields.

Love the idea! Would this information be searchable? Sure, you could export your list, but that means you need some additional program to search the exported list.

will this one be developed one day or....?

By FAR the most wanted feature by users on Discogs has to be this. Since I first joined I have wanted this feature. A completely free text field (NO character limit - why limit ourselves?) to describe stuff like vinyl quality/condition, sleeve condition, how much money it cost/how much I'm willing to pay, details on my digital copy like bitrate/filetype, why I rated it 5/5 or 1/5, whether it's a dark track, mellow track, tech track and whatever else I see fit to describing it. I know this has been discussed to death, but can we please have this feature sometime this year (2008)?

Also, add an option to select the media and sleeve condition.

Please add "date added to collection".