With his traditional flourish, Steve Jobs has just unveiled two landmark products from Apple, and they’re bound to stand the market on its end once again.

The much-rumored iTunes Phone has finally arrived, and no, there is no 25-song cap on it. The Motorola ROKR is the first iTunes phone to hit the market, and it can hold a hundred songs and features a built-in iTunes player. Plug it to your PC via USB cable and the phone icon appears on your PC’s iTunes software’s Source list so you can simply drag and drop your music files. It also features Autofill, which turns the phone into an iPod shuffle, filling it with a random bundle of your favorite songs. In fact, you can think of the iTunes phone as a more advanced shuffle, particularly since it comes with a display (where your album art pops up in full color). It also pauses your music when you have an incoming call, just as a good music-phone is supposed to do. In trademark Moto fashion, the ROKR comes with both a stereo headset (with microphone) and onboard stereo speakers.

Oh, the ROKR also comes with a built-in camera, but you’re probably not interested in details like that.

But what is probably more exciting news is the unveiling of the razor-thin iPod Nano. Intended to replace the iPod mini, the Nano is thinner than a pencil and just a third the size of the mini in volume! So just how small is this? Jobs fished it out of his jeans’ change pocket (”Ever wondered what this pocket was for?”).

And it’s a full-featured unit, with clickwheel, full-color screen, standard 30-pin port, USB 2.0, 14-hour battery life and 4GB of storage so you can store a thousand songs (a 2GB model is also available). It also comes with a customizable clock app (initially set to Cupertino time, haha!), stopwatch app and even full-color games. Also new is a screen lock (use the clickwheel to dial your combination! Cool!) — If you forget your combination, docking to your PC automatically unlocks it. It’s the attention to these little details that makes Apple so special.

The iPod Nano comes in both white and black. And it’s priced like the old mini at just US$ 249. Wow.