With that one, let's try uninstalling
both iTunes and Apple Application Suppport. When we reinstall iTunes, that should reinstall Apple Application Support as well. We'll take a few additional explicit precautions along the way too. Best to print these instructions out, because at one stage of proceedings you won't be able to use a web browser.
Preliminaries
Download and save a fresh iTunes installer to your hard drive. (Don't run the install on line and don't start the iTunes install just yet.)
http://www.apple.com/itunes/download/
Now, quit QuickTime (if you have that open) and Safari 4.0.4 (if you have that installed and open). Both applications use Apple Application Support, and they will interfere with the uninstall if you have them open.
*Uninstall phase*
Head into your "Add or Remove Programs" control panel. Uninstall iTunes. Uninstall Apple Application Support (if it is listed in there).
(From this point on until we reinstall Apple Application Support, neither QuickTime nor Safari 4.0.4 will be able to run.)
Next we'll remove any leftover program files and folders.
(1) Open "Local Disk (C:)" or whichever drive your program files are stored on.
(2) Open the "Program Files" folder.
(3) Right-click on the iTunes folder (if it still exists) and select "Delete".
(4) Open the "Common files" folder.
(5) Open the "Apple" folder.
(6) Right-click on the Apple Application Support folder (if it still exists) and select "Delete".
Now empty your Recycle Bin and restart the PC.
*Reinstall Phase*
After the PC restarts, do not open any other applications. Disconnect from your network and/or the internet. Switch off all your security software (firewall, antivirus and antispyware).
Now start the install by doubleclicking the iTunesSetup.exe file you downloaded earlier.
Reenable all security software prior to reconnecting to your network and/or the internet.
Did the install seem to go through okay? If so, does iTunes start launching properly again?