Rumors have it that the new version of iLife has reached the Golden Master phase in terms of development and is ready for public release before Leopard's launch this coming October.

Actually, the release window is quite vague as sources mentioned that the company could release it by summer or even earlier. It was also said that the new version of iLife will both support Mac OS X Tiger (10.4) and Leopard (10.5) operating system.

Despite that, it is still unclear what improvements and additions have been added to the software. Another valid point of discussion is whether Apple will release it under the name "iLife 07" or "iLife 08" since it's already the middle of the year.

More importantly, we have to remember that the final version of Leopard is still not yet finished. If Apple will indeed release iLife earlier than October, then there is a high possibility that consumers will need to perform an upgrade to make the operating system compatible with the application.

As always, we will be watching this one closely and inform you on any further developments.