Event-related potentials and performance data were recorded from young and old subjects performing six tasks involving auditory discrimination of musical stimuli. Tasks included pure tone, timbre, rhythm, and interval discrimination, detection of a meter shift, and discrimination of open and closed harmonic endings for chord progressions. P3 latencies were generally longer for the old subjects. P3 amplitude and performance differences between subject groups were not significant. Our results provide a quantitative probe of the neural and behavioral significance of the influence of aging and stimulus complexity on the processing of some of the elementary constituents of music. In particular, pure tone and timbre discrimination appear to correspond to behaviorally and neurally simpler processing than does discrimination of the other musical constituents tested in our study.