Apple Itunes 7.4.2 seems to be working with Iphone and as stated on their download page. Itunes version 7.4.2 addresses an issue with creating ringtones using iTunes Plus song purchases and includes bug fixes to improve stability and performance. To use iPhone with iTunes requires Mac OS X 10.4.10 or later.Tunes 7.3 requires Windows 2000 SP4, Windows XP, or Windows Vista and to use Apple TV or iPhone with iTunes, Windows XP SP2 or later is required.
In the previous version of 7.4.1 Users were not allows to create custom ring tones either. You can download Itunes 7.4.2 which includes quick time 7.1.6 or later along with the download.
