I'm on OSX 10.4.10. I just downgraded to iTunes 8.2.1 and it's working alright.
(I can't use 10.4.11 because Apple screwed up support for my printer in that version).
You can get the older version from here:
http://support.apple.com/downloads/iTunes8_21
1. Rename your <myname>/Music/iTunes folder to iTunes.old
2. Stop the iTunesHelper process from Activity Monitor
3. Drag iTunes from Applications to trash and empty trash
4. Install 8.2.1 from the dmg
5. Rename Music/iTunes to iTunes.new (or just delete)
6. Rename iTunes.old to iTunes
7. Consider switching to Windows7