Running Windows 7 x64.
I've noted that iTunes will load once without administrator privileges and once when as an administrator. After that it hangs on startup regardless. Reboot the machine and then you can load it once each way as I mentioned.
I've uninstalled iTunes, icloud and reinstalled them. If there was a problem with any files or databases that iTunes uses, then the problem would show itself regardless of the reboot so it can't be that.
There's about a thousand 'bonjour service' errors in my windows logs so there's obviously something wrong there. I've disabled the bonjour service but then iTunes doesn't work properly even after the reboot. I've messed around with the service by restarting it manually - no change to iTunes loading issues. So... Apple... Fix the bonjour service!!
There is DEFINITELY a problem with iTunes, bonjour or both. With 98 billion in the bank you'd think Apple would have the cash to splash a little on making their biggest money spinner stable, regardless of the platform its running on.
oh, the reason why it says itunes32 is that it's a 32 bit application hammed up to work on a 64 bit OS. I don't think this has any relevance to the problem as windows 7 x64 should be able to run either without an issue. If there was going to be a problem, it would be with the drivers for the iPhone, iPad etc. I think the app is 32 bit but the drivers for the devices are 64 bit. The 32 bit version won't run so they've obviously made some adjustments.
I don't think any of us have any choice but wait until they figure it out. In the meantime, if you start iTunes, don't close it (even if you sleep your computer every day like I do) and you'll get around the problem for now.