There won't be a 3.5 for sure. iTunes will go to version 4, and it will include the following things:
• Smart Visualisations
• Rendezvous Local Network Streaming
• AAC (MPEG-4) Support (along with iPod update)
• Improved Smart Playlists
Apple plans to have the update ready with the iPod announcement at MWSF. Also, it will be Mac OS X only, of course, as all OS 9 development has died about now.
Mac user since 1987. Running Mac OS X 10.8 Mountain Lion on a MacBook Air 11" & an iMac 27" and whatever's newest for my iPhone 4s, iPad 3 and AppleTV 2.
Apple Certified System Administrator 10.6, Apple Sales Professional 2008-2011, Apple Certified Mac Technician.