Apple has apparently added “update iTunes” to its yearly September media event to-do list. Along with a new iPod nano and iPod shuffle, a revamped iPod touch, and a refreshed Apple TV, Apple delivered the third iTunes version update in as many years, iTunes 10.

Now, I don’t think you could be blamed for assuming that iTunes 10 is a major update, after all, 10 is a big number, and it marks iTunes’s debut in the double digits. But Apple seems to have used some restraint this time around, introducing only one major new feature and noticeably improving performance, but still lathering its typical and haphazard coat of interface changes.

Ping me

The one major new feature in iTunes 10 is Ping, which Macworld has already spent a bit of time with, so I don’t want to rewrite too much of our introduction. In a nutshell, Ping is a new, optional social network for music that Apple built into iTunes 10. Friends can follow, view, and comment on each others’s new purchases and songs they “like,” and stay on top of upcoming concerts. Artists can create their own store pages, interact with fans, and post photos and videos.

Ping is Apple’s first stab at reintroducing some of the social elements that have been lost in the evolution from traditional forms of distribution to digital media. We don’t run down to the local music shop anymore to argue with our friends and the know-it-all-clerk over which album marked our favorite band’s fall from grace. We click to download music and, at best, post our favorite new song or album to Facebook or Twitter.

iTunes 10

But now, instead of clicking to share our favorite new album on Facebook or Twitter, we can... click to share it on Apple’s social network instead of someone else’s. Within 48 hours of releasing it, Apple boasted that over one million users have signed up for Ping. Beyond that inevitable spike of early adopters, though, we’ll have to wait and see if Apple’s first foray into making the iTunes Store more social will resonate with a meaningful percentage of users.

In the context of Apple’s efforts on the web, Ping is a decent 1.0. It does what it says on the tin, and it’s fun to see what my friends are buying and let other friends from across the country jump into the conversation. But Apple’s not a social networking company, and it arguably isn’t very good at the web (Exhibits A and B: iWeb and MobileMe’s rocky birth). Stepping out of Apple’s bubble, Ping leaves a lot to be desired.

We covered most of Ping’s drawbacks, but to recap: there’s no way to get notified of new activity like new comments from friends or when your favorite artists post something new to their pages. Since Facebook Connect was short lived in iTunes 10, the only way you can add new friends right now is manually, by typing in their name or email. How 2003.

Perhaps most importantly, Ping is only for music right now. You can’t see when your friends buy a movie, rent a TV show, or splurge on a bunch of new iPhone games. You can’t chat with friends on an iTunes Store Ping page about what happened in last night’s Mad Men, and App Store developers still can’t respond or offer customer support to the virtual tsunami of misguided or incendiary reviews of their apps.