Apple today released iTunes 7.3.2 not much detail on the Apple site as to what has been updated. Below is the information from the readme file in the 7.3.2 dmg.

What’s new in iTunes 7.3.2
With iTunes 7.3, you can now activate iPhone service and sync it with your music, TV shows, movies and more. Also, you can now wirelessly share and enjoy your favorite digital photos from any computer in your home with Apple TV.

iTunes 7.3.2 provides bug fixes to improve stability and performance.

Download seemed slow through software update, so I tried downloading right from iTunes software download and it was much faster…