I can't seem to create a new thread but there is the latest I wanted to share.
Finally full 100% working this elusive player, I never saw the freaking license things anymore. Tested on my 2 devices!
Note that I use the latest version, PowerAMP Music Player v2.0.5 build 477, not 473 mentioned in this thread. My own screenshot on my phone below.

Build 477 Changelog:
- build-477: fixed issue with installation on Android 3.0
- build-477: Polish translation (thanks to Blazej Jezewski)
- HTC Beats/SRS support
- enabled DSP features are now displayed under equalizer curve
- Poweramp now reshuffles list on repeat
- fixed few ICS-related Poweramp issues
- multichannel FLACs
- option to search for album art based on just title/filename
- Korean translation (beta)
- few other bug fixes and stability improvements
My source was:
Code:
http://bulletupload.com/i217ogt9swos
Procedure I did:
1. Ensure no poweramp or whatever (unlocker, trial reset, etc) is installed. your device must be poweramp free. uninstall all these if you have, PLEASE USE Titanium Backup to remove them so they can be taken out more cleanly.
2. Disable internet connection.
3. Install PowerAMP.2.0.4-buil.apk. DON'T RUN!!!
4. Install PowerAMPunlocker.apk. DON'T RUN!!!
5. Install PowerAmpPatcher.1.4.by.ChelpuS.apk. Now this you RUN and PATCH! This will ask for root access, grant it. This will modify bytes and enables the player fully.
6. Enable internet and run PowerAMP. This should license the player. If not, reboot your device and rerun PowerAMP. From this point onwards you have a fully licensed working PowerAMP but not the latest. If this did not work, go back to step 1! A proof that the license is fully working is that there is NO MORE DISPLAY of "license check failed". That line should be not there anymore.
7. Finally, get the latest poweramp APK from poweramp site
Code:
http://powerampapp.com/download-poweramp/
As of this post I got this link for the latest version.
Code:
http://powerampapp.com/download/Poweramp-2.0.5-build-477.apk
8. Install the latest version, it will reuse the previous data and license.
9. I did not uninstall anything after this, but I think the patcher can be safely uninstalled.
All this was made possible by ChelpuS, the one who did the crack, he deserves all the credit! That once uncrackable poweramp is for now, history.