I know so many who have been waiting for this. iTunes finally allows you to buy, rent, and watch, right on your Mac or PC desktop. This is also the first time that HD movies are purchased for permanent storage and not just rented.

The selection is currently limited to a few, but it can only grow larger. In the spotlight are Quantum of Solace and Twilight. Each movie comes along with an iPod and iPhone friendly version, so you can watch them on the go. A HD movie purchase is priced at $20 (HD tax amounts to $5 more than the SD), while renting it costs $4.99 for new titles (and $3.99 for library titles).

While I will highly recommend you against purchasing Quantum of Solace, I am still excited about HD movie downloads. Apple is hell bent on keeping Blu-ray off their Macs, and to some degree, it’s working! Let us know your thoughts on this. On a side note, did you know that Apple has started a twitter feed for iTunes Trailers? Follow them if movies is your thing!