Now available via Software Update:
QuickTime 7.0.3 delivers several important bug fixes, primarily in the areas of streaming and H.264 video. QuickTime 7 Pro users also gain the ability to create video and audio files that can be played back on compatible iPods. This update is highly recommended for all QuickTime 7 users.
Important Notice to QuickTime Pro Users: Installation of QuickTime 7 will disable the QuickTime Pro functionality in prior versions of QuickTime, such as QuickTime 5 or QuickTime 6. If you proceed with this installation, you must purchase a new QuickTime 7 Pro key to regain QuickTime Pro functionality. After installation, visit www.apple.com/quicktime to purchase a QuickTime 7 Pro key.
Additionally, a video stream of today's media event is now available from Apple.com.