If you are running in a city with dangerous traffic, your earplugs could cost you some unexpected accidents. This is a possible outcome from your habit of listening to music while running. Not so obvious negative consequences are not having any perception of your running, because your brain (the main organ of perception) was busy doing something else. So all your "interactions" with the ground just never will be perceived and body will go through repetitive wrong movement until injury.
http://www.posetech.com/training/archives/000329.html
Paying attention to too much music while you run can actually cause you to subconsciously move to the music rather than to the pace you should be running at. You may find this helpful, but other times it may not be.
Another thing to consider on the negative side of music running is the fact that the pros really don't do it. Not that that should matter to you, but why they don't may just make some sense. Consider the race that you will be in next week, month, or next year. Will you have music to pace yourself? No, in fact, you will feel out of your normal sync without it. So, it is important to get in tune with your body beforehand with balancing the running music with the running without music.
http://www.therunningadvisor.com/running_music.html
Any elite or competitive athlete will tell you how much focus it takes to train and then compete, you will NEVER see any professional athletes doing any serious training with headphones on. Why? Because they understand the importance of keeping their focus and prefer to listen to what their bodies are telling them. Every now and then, some will jog with some music for a little bit, but never do they constantly train with music.
http://www.posetech.com/training/archives/000615.html





