At a special press event, Apple has announced a number of new music-related products and updates:

• iPod nano: Made to replace iPod mini, it holds 500 or 1000 songs, is flash-based, features a color screen, and starts at $199 US.
• iTunes 5 released: features a tweaked interface, “smart shuffle,” folders, Spotlight-like search, and parental controls, among other features. Free download.
• Motorola Rokr: the iTunes phone is here at last; holds 100 songs. Service is provided through Cingular; the phone goes for $249 US with a two-year service contract.

Also, Apple has released QuickTime 7.0.2 (available via Software Update).