iTMS update coming. Definitely.
If you go to the iTunes Music Store (US) now, you'll see an "It's Showtime" badge instead of anything else. Clear, confirmed details of the iPod - should one be revealed - are still missing, but it seems very clear by now that we'll see movies for 9.99 USD a pop, 14.99 USD for newer ones. And only Disney and maybe some smaller ones will be initially on board. Also still unclear: The resolution and file size of the movies. Interesting times. We'll keep you updated throughout the day.