UPDATE: Apparently Apple is not ready to push the update until later in September 2007.
Fake rumor from a completely made up source who allegedly works for Apple (Go ahead, Apple, try tracking the source of the leak):
Apple will push another software update for the iPhone during “The Beat Goes On” special event on September 5th, 2007. This one is iPod and iTunes related.
This fake rumor might not be entirely false, who knows!