It's a legal long-term truce, but one in (our) Apple's favor, rather than Beatle-Apple's.
Our Apple is now the one with power, so much so that it indisputably owns all Apple-related copyrights, including those used by Beatle-Apple. Now, Steve et al. will generously allow (for $) Beatle-Apple to use those images/terms everyone was squabbling about before--but the bottom line is that our Apple has the upper hand, because it now owns *everything* related to the name Apple. If they want to yank back the right for Beatle-Apple to call itself Apple Records, Cupertino can do that. I'm sure there are safeguards in the agreement for Beatle-Apple's peace of mind, but the bottom line is that this is a victory for our Apple, hands down. From there being two parties owning a company named Apple and claiming to own the name Apple, now there is just one with a legal claim on the name, our Apple.
In addition, part of the triggers for the renewed hostilities between the two, the success of iTunes (which the Beatle-Apple, as a recording company, had deeply resented as a violation of the previous "stay in your own field" agreements) will go untouched.
While none of this prohibits a Beatles special edition on iTunes (or a themed iPod), this is just an announcement of the long-term legal peace between the two Apples. I imagine they're holding off on announcing catalog access since this particular announcement is meant to boost investors' interest in our Apple and its solidity, and a catalog announcement would be more consumer-targeted.