Apple has shipped iTunes 7.4 for Mac and Windows systems.
The new version of the software offers support for the new iPod generation, including the iPod nano (3G), iPod classic and the iPod touch.
This new version allows users to create and buy custom ringtones for their iPhone for US$0.99 (plus the cost of the original song).
The update also allows users to watch videos at a larger size in the iTunes window as well as introducing support for playing videos with closed captioning (when available). iTunes users can also now rate albums from one to five stars.
iTunes for Mac 7.4 available here.
iTunes 7.4 for Windows available here.