Apple announced new iTunes 10 with its new logo on Sept 1, in their musical event. it comes with many advancements in view and music organization. Has also added a social interaction on it called “Ping”.
I tested it with an attempt to activate my iPhone 16gb 3GS 4.0.1, no problem. Just did it correctly. But stay away from the 4.0.2 and 4.1 coming next week.
Download iTunes from here. Getting this version is strongly recommended. Enjoy your music.