iTunes 10.5 beta 3 is necessary if you wish to get your iPhone, iPad or iPod touch up to speed with iOS 5 beta 3 and iTunes 10.5 is the only way in which you can restore to the newest beta version of iOS 5.

In the previous beta versions of iTunes 10.5 and iOS 5 Wi-Fi sync was a feature that was enabled for all iOS devices and this allows users to synch their iDevices with their PC or Mac without having to attach any cables. The current beta version of iTunes 10.5 has fixed a number of bugs to make it more stable to run on both the PC and Mac.

As with the iOS 5 beta versions you have to be enrolled in Apple’s developer program to download the new iTunes 10.5 beta 3. The official release of iOS 5 and iTunes 10.5 will not be available to the public until the fall after both were announced in June at the WWDC. iOS 5 is a major release in terms of functionality and services especially when compared to the current iOS 4 version.
If you are a member of the Apple developers program you can download the new beta version of both iTunes and iOS 5 now and be some of the first people to get to see what these new releases really can do.