There are apps that age gracefully, staying functional and relevant for months or years with no changes at all (I'm looking at you, TNEF's Enough -- 2005 in the house!)... and then there's iTunes. We had only hours to get used to a new version with support for all the iPods coming down the pike, and then in don't-blink-or-you'll-miss-it fashion, 7.4 was gone and 7.4.1 was here. Wheel in the sky, keep on turning.
Apple hasn't listed specific changes between 7.4 and 7.4.1, but initial reports say that the technique for creating your own ringtones simply by changing file extensions, which MacRumors announced earlier today, is now blocked (anyone surprised? Didn't think so). Despite the patches, we're told that iToner 1.0.1, just revised to work with 7.4, continues to work as advertised with 7.4.1. Reader Joe Maller suggests that if you change the extension of your ringtone files BACK to '.m4a' from '.m4r' they will sync again and still show up as ringtones, so you might try that.
You can download the new iTunes for Mac and Windows directly, or hit Software Update for the refresh.
Thanks Mike B. and St3phen