New version of iTunes 11 is also going to be released in September along with new iPhone 5 and iOS 5. Most of the American blogs are discussing about the release of new iTunes 11.
It is expected that the new iTunes 11 will be totally different from the current version of iTunes in its looks and functionality as well. The most amazing feature of this iTunes may be to support iCloud.
iTunes 11 would come with a clean interface and would focus more on the online store. The integration of iCloud with iTunes will enable us to save data locally as well. This will be marvelous because it will keep your settings unchanged.
At the moment it is only a rumor, but we will keep you updated, stay tuned.