I have just bought an album and have imported it to my itunes. I can drag the files onto my ipods but not onto my iphone.
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In order to be able to drag/drop media tracks freely from your iTunes library to your iPhone, you need to set your iTunes sync settings for your iPhone to manual mode.
Connect your iPhone to your computer and run iTunes.
Select your iPhone, iPad, or iPod. If your device is not visible in the upper right corner of the screen, choose Library first.
Click the Summary tab and select "Manually manage music and videos".
Make sure that contacts and calendar sync is not enabled from the Info tab
You can now drag/drop songs from your iTunes library to your iPhone