In a move that no doubt will allay fears that Apple was making much ado over nothing, the company today introduced a big creamy dollop of new music products:

1. The iPod nano. Apple has brought the color screen and elegant look of the iPod together with a tiny size that falls between the shuffle and the mini. Comes in black and white in 2GB and 4GB models, starting at $199. The nano line replaces the mini line. Let the buying frenzie commence!

2. The Motorola ROKR E1. This is the first mobile phone that syncs with iTunes. It has no clickwheel, but it does have the patented (ahem) iPod GUI.

3. iTunes version 5. This version introduces a tweaked interface including improved search capabilities, Outlook syncing, parental controls, and (FINALLY!) the ability to organize playlists in folders. (FreeiPodGuy has about 30 different playlists, so this will be nice.)

4. The Hogwarts iPod. This Harry Potter collectible is nothing to get excited about, but I have to admit the Hogwarts crest on the back of this otherwise normal 20GB iPod is pretty cool. Its realease coincides with the announced availability of Harry Potter audiobooks at the iTunes Music Store, including special pricing on the complete (so far, at least) set.

More to come on these new items...