Just a note to everyone. Do not download the iTunes 7.7 upgrade. Wait for the 7.8 patch. There is a major problem with 7.7 where it will not recognize your iPod or iPhone when you plug it in, and that will freeze up iTunes. The solution is to back up your entire library, move your library xml, and have iTunes recreate your library. You will lose all your playlists and spend hours trying to build everything back. This problem is multiplied if you have multiple computers, multiple iPods and iPhones, and an AppleTV. Everyone on Apple's support forums are suggesting waiting for the 7.8 patch before you upgrade.
I just want to know, did Apple hire some Microsoft engineers? (just kidding)