Apple have just released the iTunes 7.0.1 update. You’ll be notified automatically if you have Software Update set to “Daily,” otherwise open that from Software Update from the System Preferences and go get it. This is a “suggested update” - since iTunes 7 tends to
fall over and blow up a lot, everyone with a pulse should install it right now!

This update can also be found at MacUpdate: http://www.macupdate.com/info.php/id/5661

Here’s the blurb:

With iTunes 7 and the new iTunes Store, preview and purchase high-quality hit movies plus new and classic games designed exclusively for the Fifth Generation iPod. Flip through your collection by album cover with Cover Flow, protect your iTunes library by backing up to CDs or DVDs, and much more.
iTunes 7.0.1 addresses stability and performance issues with Cover Flow, CD importing, iPod syncing, and more.