I'm also having "can't connect to itunes" msg when I try to access the app store on my new ipad (3). So frustrating to have this issue on a brand new device.
Here's what I have tried so far:
1) Reset my apple ID pw to include capital letter and number.
2) Logged in and out numerous times.
3) Closed all open apps.
4) Reset all settings under general - reset. Then I set it up as new device. Didn't lose any apps or data, just had to sign in to all accounts again.
What I found out so far:
1) When I click on a link to an app (as in using the tell a friend feature in the app store then clicking on that app link from the email), sometimes it will take you straight to the app while other times it just opens the app store. It can also try to open the app store but all I see is the "loading.." and the app store does not open.
2) When I log out and in, or close all apps, then I can easily open the app store. This continues for a while until I have the issue again.
3) Strange as it sounds, once I opened the app store Iwas getting the "can't connect to itunes" message only when I clicked on the "top charts" or "categories" section of the app store. If I clicked the "featured" section, it was fine.
I've been using the app called "App Deals" which lists apps on sale. When I click a link to an app from this app, it always takes me to the app store but I get the "loading..." message and the app store won't open. I have to close it, then open it by clicking on the app store icon then search for the app manually.
I'm beginning to think this is iOS 5.1 related issue only related to ipad (possibly only the new ipad). I can access app store fine on my iphone 4S which is also on iOS 5.1.
Seems like a software glitch or the app store servers getting overloaded at times issue.
I can still access the app store by resorting to one of above methods but it gets very annoyting.