You can either buy movies (£6.99 for older titles and £10.99 for newer releases) or rent them (£2.49 for old films, £3.49 for standard definition new releases and £4.49 for high-definition versions).
HD rentals are in 720P and all boast Dolby Digital surround sound. Standard definition downloads are 480P with Dolby Pro Logic soundtracks.
Once you've rented a film, you have 30 days to start watching. Once started, you've got 48 hours to finish or you can watch the film multiple times until the rental expires.
Transfer... subject to availability
The good news is that you can transfer the films to all manner of iPods, including the Classic, nano with video, Touch and iPhone. The films contain a special code that knows when your time's up and it disappears from your library.
If you want to watch HD downloads on your flatscreen TV you'll need Apple TV.
There are currently 700+ films to choose from, including over 100 HD flicks.
You can now download blockbuster titles such as Batman Begins, I Am Legend, and Police Academy 3 at the touch of a button.
However, after having a quick snoop on the iTunes store it seems quite hit and miss with regards availability. Some films are only available to rent, some are only available to buy.
To get started, you'll need the latest version of iTunes (7.6.2), which you can download at www.apple.com/uk/itunes.
