A few minutes ago, at the hugely anticipated (by nerds, like us) Macworld conference in San Francisco, Apple CEO Steve Jobs announced the details of iTunes' new movie-rental service, which officially launches today. On it, new releases can be viewed for 24 hours for the high-ish price of $4 ($5 if you want them in HD). Also, there's some upgraded software for the iPhone and a new notebook computer that's so thin it'll make your iMac look like a Winnebago (for $1,800 it didn't look that cool, but we anxiously await the marketing that will inevitably make us buy one). After Jobs's keynote speech, Randy Newman came out and played a song that compares Bush to Stalin. Sadly, rumors of an iTunes-Jay-Z alliance appear to have been unfounded.

Macworld San Francisco 2008 Keynote Live Coverage [MacRumors]
Apple [Official site]
Earlier: Practically Confirmed: Jay-Z Might Be Launching a Record Label With Apple