iTunes 7.3 / 7.3.1 "not enough memory" msg

Ever since I downloaded iTunes 7.3, just after seemingly loading my iTunes library, I get a "The iTunes application could not be opened. There is not enough memory available" message. Right - I'm running 10.4.10 with 1 GB of RAM. I can see the iTunes menu bar and one of my smart playlists behind the error msg box. Clicking 'OK' in the msg box drops me out. I quit out of all applications, no good; ran Disk Utility, no good. powered down and up, no good; downloaded 7.3.1 which is supposed to fix a 'minor' glitch, NO GOOD! How many more problems can there be with this 'upgrade'?

Addendum for previous post. Finally back up after 2 days of hair-tearing; it's a 'miracle' and this approach MAY help others. Remember OS 9 glitches where the only solution was power down / up and the problems just went away by magic? This approach is eerily similar.

1. Quit out of iTunes (assuming you can even get in)
2. Hold down option key while invoking iTunes
3. A box comes up allowing you to select your lib
4. Select 'create new' (don't worry, your orig is still intact). The app should come up with NO probs
5. Quit
6. re-execute - iTunes should come up OK with the new empty lib
7. go to prefs - advanced
8. re-select your orig lib
9. quit
10. re-execute again - iTunes should come up with your orig lib without glitches

This worked for my "not enough memory" prob. I think the virtue of this approach is that it allows iTunes to completely DETACH from your orig lib, then re-attach cleanly without whatever 7.3 installation garbage it was holding onto.