There are new versions of iTunes, 7.5, and Quicktime, 7.3. Here’s the details:

iTunes 7.5 (41.3MB)
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.

Quicktime 7.3 (51.8MB)
Quicktime 7.3 addresses critical security issues and delivers:
– Support for iTunes 7.5
– Updated support for creating iPhone-compatible web content
– Updated JavaScript support in the QuickTime Web Plugin
– Numerous bug fixes

For detailed information on the update visit here.

I haven’t been able to find out how this release will effect the use of iToner for ringtones but I would guess that once it is found out whether or not iToner still works it will be posted here.