As predicted yesterday, Apple has released iTunes 7.4 in both Mac and Windows editions. In addition to support for the new iPod models introduced yesterday, Apple's release notes state that the update delivers the following enhancements: "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."
This update presumably also contains the "WiFi iTunes Store" capabilities -- available to both the iPhone and iPod Touch -- which will be unlocked later this month.
Notes on any iPhone-specific enhancements? Please let us know.