Apple has released iTunes 7.3.1 and Quicktime 7.2 as updates available from through the company’s website or through Apple’s Software Update application. According to Apple, “iTunes 7.3.1 addresses a minor problem with iTunes 7.3 accessing the iTunes Library.” The update does not require Quicktime 7.2, which “addresses critical security issues” and includes support for full screen viewing in QuickTime Player, updates to the H.264 codec, and numerous bug fixes.
Both updates are available now as free downloads for both Mac and PC.
Update: Quicktime 7.2 also adds two new export options for iPhone: Export for iPhone and Export for iPhone (Cellular).
The former exports a .m4v video, while the latter exports in the smaller .3gp format. [via MacRumors].