I managed to get my iPhone to sync. I'm still using 1.0.1 and iTunes 7.3.2.
I logged into my administrator account (I'm sure many of you by default are admin, so ignore this).
Finder > Utilities > Terminal
In terminal, enter:
sudo periodic daily (press enter, it will ask for your password)
sudo periodic weekly (enter, takes a little while)
sudo periodic monthy (enter)
Search google or doc pages to see what periodics do.
Next:
Finder > Utilities > Disk Utilities
Select your named hard drive disk. Then click the "repair permissions" button on the bottom right some where.
Hope this helps. I doubt this will be a permanent fix, but at least it worked.