SO... I successfully ended up going back to 10.7 (following is the process I used to do it, as well as the references I used)
WARNING: By attempting to follow the procedures that I used... you acknowledge that if there are any purchases lost during the downgrade you take sole responsibility... I took the risk because I have my music on CD's, I regularly backup my apps to CD... and if I lose anything I will replace it myself (even if I have to repurchase it)
-It took a while, but it worked out...
1. I downloaded the iTunes 10.7 installer (iTunes 64bit: http://support.apple.com/kb/DL1577).
2. I uninstalled iTunes 11 and restarted my computer.
3. I installed iTunes 10.7 (when installed I was unable to run because the "iTunes Library.itl" file in my computer was from the iTunes 11 program) I did a file search for "iTunes Library.itl" and opened the file location (my file was located in: C:/Users/Spencer/Music/iTunes)
-[Note: Community thread that gave me the info I needed to resolve the "iTunes Library.itl" error: https://discussions.apple.com/thread/4557592?answerId=20447382022#20447382022]
4. I "right clicked" on the folder Named "Previous iTunes Libraries" and opened in new window.
5. I located the most current file (prior to the 11 upgrade) and drag and dropped it into the location of the "current" *itl file and replaced.
6. Since i keep my iTunes on my C: drive and all my music, apps, movies, podcasts, etc. on Drive D: I had to add the folder back into iTunes manually (I opened my D:/ drive and I just "dragged" my folder labeled Media and dropped/"Linked" it to my iTunes interface window on the desktop.
-I lost my playlists, but I did retain my movies that I redeemed via Blu-ray purchases. So I’m happy to be back on iTunes 10.7 (maybe in a week or 2 I’ll go back to 11, but for now... I would rather have a stable running program, than one that looks lice but does not work!
Resources:
iTunes 10.7 64bit (http://support.apple.com/kb/DL1577)
and a thread on this community about the "iTunes Library.itl" error (https://discussions.apple.com/thread/4557592?answerId=20447382022#20447382022)