Apple Released QuickTime 6.5.1 (and QuickTime 6.3.1 for Mac OS X 10.1.5)

and it is available for download via the Software Update preference panel or from this Apple web page. According to Apple, QuickTime 6.5.1 delivers many important updates, including:

• Apple Lossless Encoder, a new lossless audio codec that retains the full quality of uncompressed CD audio while requiring only about half the storage space.
  
• Significant improvements to AAC encoding, resulting in high-quality sound over a full range of audio frequencies.
  
• Enhanced support for iTunes and other QuickTime-based applications.
  

The QuickTime Update is needed for iTunes 4.5 to properly function. We have installed it on several Macs and have not encountered a problem. [Dana Baggett]