Microsoft today released the Zune HD touch-screen media player.

The Zune HD features an organic light-emitting diode (OLED) multitouch screen, an NVIDIA Tegra HD processor and HD Radio capabilities, with software advancements such as the new Quickplay menu and an advanced Web browser.

With Zune HD, users now have the ability to store and play back 720p HD video files to an HDTV using the new Zune HD AV dock accessory. You can buy or rent HD content from the Zune Marketplace, sync that content to a Zune HD device, and take it with you to play back on a large-screen HDTV in the home or on the road.

Every Zune device currently includes a built-in FM tuner, and now the Zune HD device offers the first portable HD Radio receiver on a Wi-Fi-enabled device. With HD Radio, listeners get more than 2,000 stations in the U.S. and have access to more than 1,000 stations that simulcast content in a variety of formats, from adult contemporary to news talk. Zune HD users can also tag songs they hear on supported HD Radio stations for purchase immediately if in a Wi-Fi hot spot, or complete the purchase later when using the Zune PC software.

Zune HD also features new casual games and non-gaming functionality such as a calculator and an MSN Weather application. Later this year, Zune plans to release free applications such as Twitter for Zune and Facebook for Zune, in addition to fun 3-D games such as “Project Gotham Racing: Ferrari Edition,” “Vans Sk8: Pool Service,” and “Audiosurf Tilt. TM” Games can be added to Zune HD via Zune Marketplace over the Wi-Fi connection or when connected to the Zune PC software.

Zune HD is available from major retailers with a black 16GB version for $219.99 (estimated retail price) and a platinum 32GB version for $289.99 (ERP).

Zune is also refreshing its free Zune PC software with new discovery and recommendation features, such as Quickplay and Smart DJ, that help users find and play digital content. The Quickplay menu available on the device is also featured on the PC software, allowing favorite content to be displayed along with most recently played and added music, video and podcast content.

A new Zune software feature, Quickplay, offers one-touch or one-click access to recently added, played and favorite content on the home screen of Zune HD or PC.

The new Smart DJ feature showcases the power of the Zune software and services by creating endless playlists using any artist, album or song as the starting point. For Zune Pass subscribers, Smart DJ will queue song recommendations from both the customer’s collection and from more than 6 million tracks in the Zune Marketplace. Nonsubscribers will get Smart DJ recommendations from the user’s music collection. Movies make their way into the Zune PC software this fall for rental and purchase. Users can watch movies in the Zune PC software with a full-screen viewing mode or sync them to Zune HD for viewing on the go. Many titles are available in HD and standard definition, with additional titles making their way into the catalog in coming months.