iTunes could not connect to iPhone Error 0xE8000065

Correction. The problem is not exactly resolved. It's just that iTune has a bit more response to my iPhone connections.

Found lots of complaints about the same problem online.

Deggie was right..though not from intel, but from ASUS.. the most recent BIOS update from ASUS for my P7P55D fixed the problem. Just updating your BIOS should be all that is required to fix the issue. Now my iPod Touch works fine on my Win7/x64/P7P55d setup.

This worked..

Indeed, It works!!!! one more time acknowledge!!!
I have ASUS P7P55D LE mainboard. CPU i5 750 64-bit, window 7 64-bit.
I download the new bios version 1207 from ASUS and install it.
Afterward, I can immediately synchronize my iphone with itunes. It is really a bios problem.
Thank you everybody on this thread.

I have had this problem for over 5 months. I purchased a new core i7 system with an Intel P55 mobo and I never could get my iPhone to sync with this new system. I tried everything in the book (including forums and Apple's online step-by-step guides) and spoke with apple care for hours, to no avail. Apple even replaced my iPhone 3GS 32Gb. Still, my computer could not sync with my iPhone. I was told to wait for Apple to release a new software version of iTunes (I was on 9.0.2) and so I just updated to 9.0.3 today and tried to see if I'd get lucky. I did not. During the sync the process stopped and I got more of the same error messages. My iPhone was dead....AGAIN. It was stuck in restore mode which I could not restore. I spoke will Apple Care and they set me up an appointment to restore my phone at an Apple retail store. After the genius bar folks restored my phone, albeit no contacts, no photos, no music/videos. At this point I went straight to Best Buy and bought a Dynex PCI USB 2.0 Card (any USB 2.0 card will do) and now it works perfectly! After many months of frustration I now can finally sync my iPhone to my 64 bit Windows 7, core i7, P55 motherboard system. I usually never post any info but I felt compelled to do so to hopefully make it easier on whomever is experiencing the same problem. I hope this helps!

Also, Apple now knows that it is a problem with Intel's P55 chipset software which they said needs to be updated.

What you have done in buying a Dynex PCI USB 2.0 Card is the same as I have done in upgrading my motherboard bios. In fact, the USB are connected to the motherboard which had a problem. I think, the USB have not enough electrical power. In upgrading to the most recent bios of the motherboard, the problem is fixed. In buying a Dynex PCI USB 2.0 Card you have also solved the problem of power. The difference is, I don't need to buy a USB card.
However, updating the bios is not an easy task. One must be very careful. I have done it and I can synchronize now.
Thank you very much anyway for hearing another solution.