Apart from new products, there were various software related announcements made at the Apple event today in San Francisco. iTunes is an integral software of the whole iOS ecosystem, and while a totally new version of iTunes was announced, Apple has already shipped out an incremental update. iTunes 10.7 for Windows and Mac brings iOS 6 support and that's pretty much just about it.
As previously mentioned, iTunes 10.7 for Windows and Mac doesn't bring any new features or significant updates. Why would it when Apple has already announced iTunes 11, which happens to be a major iTunes update that has finally come after such a long wait. iTunes 10.7 comes with performance improvements, bug fixes and security updates. It has support for iOS 6, which will be publicly released on September 19, as well as support for the new iPods.
You can download iTunes 10.7 for Windows and Mac right now. There are multiple ways to do this. If you already have iTunes on your computer simply launch Software Update from within the software itself. Sit back, relax and let iTunes update itself. The whole process depends mostly on your internet connection, after the relevant update had been downloaded it is only a matter of minutes in which the whole update is installed.
Alternatively you can also manually download iTunes 10.7 for Windows and Mac from the iTunes Download Page over on Apple's website. There are no major advantages or disadvantages of these two methods per se, to each his own I guess. If you have an iOS device compatible with iOS 6 then it is highly recommended you upgrade your iTunes to this latest incremental update.