I think the most-hyped functionality in iTunes 7.4 has to be the ringtone stuff, followed by album ratings. Neither of those terribly excite me, although the later sorta does, which you’d think that it might. No, in my mind, the best change happened in the UI: the Party Shuffle source list is now organized by how your lists are set up in the sidebar. Given my propensity for iTunes Smart Playlists, this is awesome—I can flit between my Radio Airtime Playlists, artist-specific lists, etc. I have groups of playlists, and I really don’t use all of them for Party Shuffle wrangling, and this saves me from using the previous UI standard, which was alphabetical by playlist type, smart playlists listed before normal ones.

Thanks, Apple. [Oh, and thanks for the $100 store credit on my iPhone, too. I have links tonight that explain the economics and psychology of that decision far better than I could.]