Remove iTunes and related components from the Control Panel
Use the Control Panel to uninstall iTunes and related software components in the following order. Then, restart your computer:
- iTunes
- Apple Software Update
- Apple Mobile Device Support
- Bonjour
- Apple Application Support (iTunes 9 or later)
Important: Uninstalling these components in a different order, or only uninstalling some of these components, may have unintended affects.
Once you have installed all these programs, go to apple.com/itunes and download & install the latest version of iTunes.
This should cure your problems....
BTW.... I just used this process to repair a friends computer this week, with the same error message and iTunes issues, so I know it works