Apple has updated QuickTime and iTunes, resolving issues with the H.264 video codec and fixing bugs. The primary changes in QuickTime 7.2 are fixes for several potential security vulnerabilities related to playback of malformed movie files and visiting maliciously crafted Web sites. However, more interesting is one other long-overdue change: movies can now be viewed full screen in QuickTime Player, a feature previously available only after purchasing a QuickTime Pro license. This update also adds two export formats: Movie to iPhone creates an .m4v video, while Movie to iPhone (Cellular) creates a smaller .3gp video. QuickTime 7.2 also rolls in unspecified updates to the H.264 codec and other bug fixes. It's available via Software Update or as stand-alone downloads for Mac (a 51.4 MB download) and Windows (a 19.3 MB download).
iTunes 7.3.1, according to Apple, "addresses a minor problem with iTunes 7.3 accessing the iTunes Library." As such, the new version rebuilds your library, so it's a good idea to make sure you have a recent backup before you update. iTunes 7.3.1 is available for Mac (a 33.8 MB download) and Windows (a 47.6 MB download).
There has been discussion in TidBITS Talk of these updates causing problems with Microsoft Office 2004 and some other applications that rely on Mac OS X's Rosetta translation environment for PowerPC-based applications running on Intel-based Macs. From what we can tell based on a discussion at Apple's site and from MacFixIt reports, the problem relates to update_prebinding failing to run properly during the update process. Once update_prebinding has been run successfully by typing "sudo update_prebinding" in Terminal or by reapplying the Mac OS X 10.4.10 combo updater, all should be well unless Java SE 6.0 Release 1 Developer Preview 6 has also been installed; it must be uninstalled according to the directions at MacFixIt before running update_prebinding.