"Use iTunes 7.7 to sync music, video, and more with iPhone 3G, and download applications from the iTunes Store exclusively designed for iPhone and iPod touch with software version 2.0 or later. Also use the new Remote application for iPhone or iPod touch to control iTunes playback from anywhere in your home - a free download from the App Store."
Now, if only the App Store was available for our free, Remote control download... tap tap tap.
Update: Screenshot of iTunes 7.7 Remote control configuration screen (warning: it's not much) added after the break.
Update 2: Mac and PC direct downloads now available.
Update 3: According to MacRumors, 7.7 also appears to add Nike+ integration for the iPhone -- a move long rumored and now seemingly confirmed.
[Thanks, Edward G., Calvin P. and everyone who sent this in]