The iPod menu contains the following iPod-specific items:
New iPod Playlist...
Creates a new playlist on your iPod.
Delete iPod Playlist
Deletes the currently active iPod playlist
Rename iPod Playlist...
Renames the currently active iPod playlist
iPod
This menu choice will appear as the name of your iPod. It opens the master iPod list, which shows all the files currently on your iPod.
Manage Playlists
Walks through and encodes each item in your currently active playlist. To encode a CD, for example, drag it into a playlist window, and choose this menu option.
Eject iPod...
Updates your iPod and unmounts it, so you can safely disconnect the Firewire cable.