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When Apple launches iTunes 4.9, you will see a mambo explosion in the Podcast audience. There are about 60 million iPods on the market and they are all going to start download podcasts very soon.

You can read Steve Jobs presentation here, transcription courtesy of sick little monkey Ryan Ozawa, certified podcasting/iPod freak, who transcribed the whole thing.

The good guys at Make magazine also recorded the session here so you can listen in. There’s also some great screenshots of the product and it looks really great!