If the W950 reads MP3 or AAC ID tags ok, then it should display the artist name and track info ok. Not sure about album art. iTunes used to embed album art in the music file for display on an iPod. It doesn't with iTunes 7 and later. I don't know how the W950 handles artwork.
Obviously you won't be able to play iTunes Store purchased tracks on the W950, just ones you've ripped yourself.
I have been informed by a contact in Sony Ericsson that they are working with Apple and are well aware of the lack of iSync support for these phones. However, with the release of iSync 2.0 Apple have added Plugin support and are pushing the phone manufacturers themselves to provide iSync plugins for their new phones.
This means that support for specific phones will not be tied to Apple's software update schedule, and in theory, when you purchase a new phone, an iSync Plugin will be supplied.
This is yet to happen with any manufacturer! Who know if, and when, it will...