Well I have personal good news. At least this gives hope to others who have not yet tried this. I did the AppZapper/reinstall ploy and so far it's worked for me.
I had done a clean install of Snow Leopard a coupla weeks ago and iTunes was upgraded to 11.0.4 at the same time. Since then I couldn't play more than two songs without iTunes locking up on me. I was importing some old CDs and it would crash every 3 or 4 discs into the process.
I renamed all my current iTunes folder/files ("NOT_xxx") and put them in a nondescript folder of their own. I used AppZaper to clean me out and downloaded a fresh version of the app. One I launched it I replaced all the new folders/files with the old ones, removing the "NOT_xxx" prefix I'd added so the new iTunes could locate them.
I have now been playing music for about four hours during which I've ingested several more CDs of music at the same time with no problems whatsoever.