Not quite...iTunes is still at 7.4.2...
iTunes may stay at 742. Or not. But there's not necessarily any reason it will get an update prior to or at the same time the iPhone is updated. For example, handling iPhoto Events sync'ing with iPhone -- if it is indeed a feature in the iPhone update; I haven't heard it is, but is on the iPods, I think -- may already be in iTunes 742, or it may only have to do with iTunes acting as a conduit and the lack of Event syncing is something that has to be coordinated between iPhone software and iPhoto 08, without iTunes mattering in this case.
friggin right man. ridiculos all these people bash something harmless. its not like we are calling their home phones interrupting their late night cinemax session. if i want to post i think apple is going to put an update where they blow everyones iPhones up except people who live in Texas then so be it. Not like anything anyone post here is going to change Apple anyway. So get back to your Myspace drama and leave these posts alone haters.