iTunes 7.5 features the ability to activate iPhone wherever service is offered and support for Phase, a new interactive music game designed exclusively for iPod nano (third generation), iPod classic, and iPod (fifth generation). This release also includes bug fixes to improve stability and performance.
Still no games for iPhone!
Quicktime is updated to work with iTunes 7.5 and also offers better export for iPhone consumption,
With iTunes 7.4, sync your favorite music and more with the new iPod nano (third generation), iPod classic, and iPod touch, plus create custom ringtones exclusively for iPhone with many of your favorite songs purchased from the iTunes Store. You can now also play purchased videos with closed captioning (when available), easily rate your favorite albums from one to five stars, and watch videos at a larger size inside the iTunes window. iTunes 7.4.2 addresses an issue with creating ringtones using iTunes Plus song purchases and includes bug fixes to improve stability and performance.
Note – this update removes your home-made ringtones. So, if you added ringtones using the m4a to m4r import method, you’re out of luck.
With 30 minutes to spare to get it in “today”, Apple has released iTunes 7.4.
It is not functional yet but there is a pane now in iTunes for ringtones:
