The new iTunes 10 finally went live tonight and here is what's in store:

What's new in iTunes 10

 • Introducing Ping. Use Ping to follow your favorite artists and friends or connect with the world's most passionate music fans. Discover the music everyone is talking about, listening to, and downloading.

 • Rent HD TV episodes for just 99¢ each. Watch them on your Mac or PC, on-the-go with iPhone or iPod touch, or in your living room with the all new Apple TV.

 • Play your favorites on the all new iPod touch, iPod nano, iPod shuffle, and Apple TV.

 • Play music wirelessly with AirPlay on AirPlay-enabled speakers, home theater receivers, and iPod accessories.

 • Explore many look-and-feel improvements throughout iTunes.

 • Enjoy performance improvements which make iTunes faster and more responsive.

 • Additional voice support with VoiceOver Kit for iPod.

 For information on the security content of this update, please visit: support.apple.com/kb/HT1222

And even cooler, Apple is STREAMING this event. I think the reason is probably two fold. One to show off that they can stream a huge event and are setup for delivering huge amounts of content, and two, they don't want any MiFis and live bloggers hogging up the bandwidth and spectrum creating problems akin to the last keynote. Apple is using HTTP open standards, but from what I hear, it's not available on Windows. So, you need an iOS device (iPhone or iPod Touch) or a Mac with OS X 10.6; I'm sure TWIT.TV will be simulcasting it. With all of the problems Apple has had this year, I REALLY have my fingers crossed that this goes off well. 

Just for good measure, I'll also be watching the GDGT Liveblog. They always do an excellent job. 

Prediction wise, for me, I'm prepared to be underwhelmed. I think there will be an new Apple TV-ish device, but I don't think it will be everything that people expect. Will it run some apps? Probably, such as Netflix, etc. . However, I don't expect to be gaming on it. Be prepared to be underwhelmed. I promise you will be. 

I do expect to see iOS 4 for the iPad, and I bet it will have some custom features not available on the iPhone. That's been a long time coming, and is sure to make users happy. 

New iPod Touches for sure. Definitely Front and rear cameras, but I'm not sure about the retina display. It would be killer if they added that. 

I REALLY hope for a new iLife suite, but I doubt they would announce it at an event. Well, then again, they may announce it, but not spend any demo time. Hey at least that's ONE affordable Apple product I'm going to buy sight unseen. 

We'll know tomorrow @ 10am PST / 1PM EST