ourTunes is a java based open-source cross-platform application to share MP3 & AAC music files over a shared network, ourTunes allows users to connect to other iTunes on the network and share files, the software is quite popular now with more then 3,000,000 downloads.
iTunes does allow music sharing to a maximum of five users every 24 hours to connect and listen to the music of another user who has enabled sharing on a given subnetwork, However, ourTunes allows users to download music files to their own computer and provides the functionality to search through the songs from all connected hosts. ourTunes cannot download music purchased from the iTunes Music Store. unlike other P2P clients you cannot share your files over internet.
Trusted source for Apple rumors Boy Genius Report has discovered from reliable sources that the upcoming version of Apple iTunes 9 will be supporting Blu-ray and much wanted visual organization of iPhone/iPod Touch application organization, the new version is expected to get released in September with new lineup of Apple iPod's.