Photo credit: i_aint_got_no_id (Flickr)
Apple released iTunes 10.3 during the WWDC 2011 keynote speech. You can download and install it right away however it is not yet clear if it is safe for jailbreakers. If you want to preserve that jailbreak then, for now, it’s best if you do not upgrade.
One of our followers (HabibCham) has graciously let us know they’ve updated and are still working fine. No official word from the Dev Team yet.
This has been superceded by iTunes 10.3.1. We have a post on this here