I am running the latest version of iTunes on my PC and iOs 5.1 on my iPhone 4.
I subscribed to iTunes Match several months ago and it was working great. Buying songs on my computer and putting them in a playlist and seeing that reflected in my phone instantaneously was great (and vice versa).
I was in iTunes again recently and noticed that none of the cloud icons (or matched, or uploaded, etc.) is in the library. The column is there, just nothing in it. I remember seeing something about needing to sign out and sign back in, but did that and didnt really pay attention. When i saw the iTunes Match appear in the left column next to Store, i clicked it and it said that my iTM was not linked to that library, but its the same computer and everything. Now I open iTunes last night to buy some music (cuz its just easier with the computer) and dont see anything about iTunes Match. There is a cloud next to the Library "tab" but again, no other indication of my subscription to iTM.
I still get all of my playlists in my phone with songs not locally stored having clouds next to them. I'm just concerned that it isn't working the same way that it was... maybe this is a non-issue?!