The update for iTunes addresses a minor problem with iTunes 7.3 accessing the iTunes Library.
The update to QuickTime addresses critical security issues and boasts the ability to use full screen viewing without the need to buy the pro version. It includes updates to the H.264 codec and numerous bug fixes. However if you own a QuickTime Pro key from versions prior to version 7 you will need to purchase a new key from Apple to use with QuickTime 7.2.
Open up the software update program if you have not already been prompted to upgrade or grab the update from Apple's website!
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