Apple has released QuickTime 7 for Mac OS X 10.3.9 (Panther) systems.

The software is available through Software Update and also as a direct download from the Apple site.

Apple's ubiquitous multimedia software includes a host of new features, including: H.264 video support; the capacity to resize screens of streams with no gaps; Zero-configuration streaming; 24-channel surround sound; better playback controls; a content guide and other features.
Sadly, however, users of the software will see several greyed-out feature controls, each irritatingly marked as 'Pro'. In order to implement these features, Apple requires users to pay $30 to unlock them.

Existing QuickTime Pro users are asked to pay out once again, Apple says: "Installation of QuickTime 7 will disable the QuickTime Pro functionality in prior versions of QuickTime. If you proceed with this installation, you must purchase a new QuickTime 7 Pro key to regain QuickTime Pro functionality."