As we anxiously await Tuesday for the “Let’s Rock” iPod event from Apple, all we can do is speculate. But now, rumor has it that we’ll see two major software updates on the big day.

We’ll most likely see iTunes 8.0 released on September 9th, which is expected to have a few new cool features like “Genius,” which recommends music to you, HD-quality TV episodes for purchase and grid view.

We may also see the release of iPhone 2.1 firmware, which could bring significant changes to the iPhone and perhaps put to rest a few of the issues it has currently been having. Background push notification is expected to be added along with directional GPS. Developer seeds may not have gotten all that Apple is planning, either, so a few surprises could be in store.

[via iPodNN]