With iTunes DJ gone from iTunes 11, what's a good replacement solution?
I'm still adjusting it, but here is something that might actually be better than iTunes DJ on some aspects:


create a playlist with some rules approaching the way you were using iTunes DJ. Something like Rating > 3, not played in a month, live update based on least played or random or whatever you were using with iTunes DJ.
start playing
switch to Mini Player
turn on Up Next View and extend it vertically. You can alternatively show previously played using the clock icon.


What I like with this is the amount of interaction you have with the songs coming up. With a few clicks and remaining in that compact view, you can delete songs, add songs in the queue from genius recommendations. You can even bring up a full iTunes window on the side for drag and drop of additional songs or quick add (via alt-click) of songs to Up Next. Might take a little while to get used to it but it has potential.