iTunes - Network Connection Time Out

I installed iTunes for the first time last week and it was working fine. I had some virus activity going on after the installation and after my antivirus software detected it, it seems to be gone. Then I had issues connecting to the internet with firefox and had to change my proxy setting. Since then, I have not been able to access the iTunes store. I am getting the following error message: iTunes could not connect to the iTunes store. The network connection timed out. Here are the results from the diagnostic test:

Adapter Name: {8A05B5F1-823D-4188-BEDA-2AA2063A0279}
Description: Intel(R) 82562V-2 10/100 Network Connection - Packet Scheduler Miniport

Default Gateway: 192.168.1.254
DHCP Enabled: Yes
DHCP Server: 192.168.1.254
Lease Obtained: Tue Oct 12 16:56:48 2010

Lease Expires: Wed Oct 13 16:56:48 2010

DNS Servers: 192.168.1.254

Active Connection: LAN Connection
Connected: Yes
Online: Yes
Using Modem: No
Using LAN: Yes
Using Proxy: Yes
HTTP Proxy: 127.0.0.1:50370
SSL 3.0 Support: Enabled
TLS 1.0 Support: Enabled

Firewall Information

Windows Firewall is on.
iTunes is enabled in Windows Firewall.

Connection attempt to Apple web site was unsuccessful.
The network connection timed out.
Basic connection to the store failed.
The network connection timed out.
Last successful store access was 2010-10-08 22:01:38.