For all of you out there with iPods, this most definitely applies to you. The vulnerability has been rated, "highly critical," so update your iTunes ASAP. iTunes 4.8 is the version that's needed to address the flaw, & you can grab it here.

"The MPEG4 file parsing code in iTunes versions prior to 4.8 contains a buffer overflow vulnerability. Parsing a maliciously-crafted MPEG4 file could cause iTunes to terminate or potentially execute arbitrary code."