Version 1.2

Downloadables Importer is a useful Plugin that allows uploads of anything under the sun (apart from .jpgs as these get used for product and category images)
Once users have uploaded their downloadable products to their servers via ftp, this Plugin allows users to Import the files into their Wp-e-Commerce store as products. *genius*
Products are named after their files. If the files are .mp3s the file is also associated as a preview file for integration with instincts mp3 music player, and the products are filed under their folders name as a category.

Requirements:

• WordPress 3.1 and above
• Wp-e-Commerce 3.8 and above
• Basic Knowledge in WordPress, and FTP.

Please Note this version ONLY works with wp-e-commerce 3.8, if you are not using 3.8 I recommend you look at upgrading your store.

For more information please read this post

Theres also this screencast that shows you how it works