The exact details on what this newest version contains aside from bug fixes has not been revealed quite yet, but we recommend you go ahead and move on up to it one way or another. Late October was the last update (to 4.4.2) and it contained a fix to an issue a few users were having where they were they had to be connected to iTunes in order to complete any kind of update. The horror, the horror!
Of course users should also note if they haven’t already that Apple has added support for iTunes Match to the Apple TV earlier this month as well. This service will allow you to take part in the $24.99-per-year iTunes Match service where you can upload 20,000 songs to the cloud and listen to them streaming from any Apple device with access to the internet. The update to iTunes Match compatibility came to the Apple TV without a software update, but for your desktop you’ll need to download the update to iTunes 10.5.1.