With the release of iOS 5 for developers iTunes has been updated to iTunes 10.3.
iTunes 10.3 is in beta form and will offer “iTunes in the Cloud” feature.

iTunes 10.3 will enable users to automatically download music, apps and book purchases their devices.You can also access your purchase history. It is available for a download for both Windows and Mac users.

iTunes 10.3 gives you new ways to get your music, apps, and books from one device to another — wirelessly and without syncing. And the iBookstore comes to iTunes on your Mac or PC for an unabridged browsing and shopping experience. With iTunes, even getting your entertainment is entertaining. Automatically download new music, app, and book purchases to all your devices. Or download only the stuff you want to just the devices you want. It’s all part of iTunes 10.3.

Download iTunes 10.3 for Windows and Mac.

Download iTunes 10.3 for Windows and Mac