I like the fact that last.fm have finally implemented on this, and I know that they have been working hard on it, so I really appreciate their effort. On the other hand, for people who listen to foreign artists, the system is really lacking in certain areas, since we tend to use Unicode and foreign languages. I personally prefer to tag the artists in their original language, meaning Japanese artists would use kanji, Korean ones would use Hangul, etc etc.
So what you guys can do as users is to flag any incorrect naming of artists (and even their tracks if you want to) according to their correct names - and if you need to know if they're correct…
Lamp