Why wont iTunes detect my iPhone 4?

Welp, I finally splurged the money and got an iPhone 4 white. It's beautiful and I'm excited to have it, but it REFUSES to work with iTunes. When I plug it in, iTunes freezes. After 5 minutes or so it'll start working again, but the phone isn't detected in iTunes (yet is detected as a camera device in Windows)

I'm running Windows 7 64 bit, and it seems to be a common problem for the OS. I've tried multiple things: Restarting my computer, reinstalling iTunes, running in SP3 compatibility mode, restarted Apple Mobile Devices, and all the "turn off your phone plug it in in this order blah blah" junk. So far nothing has worked.

The iPhone is the only device I'll buy from Apple, and it's disheartening that I can't even get it to work with iTunes (which you MUST have for it to even be worth it).

Any help in the matter would be greatly appreciated, I'd love to be able to use my new phone as it was intended.

Thanks.