FYI, I upgraded to Mavericks from Mountain Lion on my 13" Macbook Air (late 2012 model). This 'upgraded' my iTunes 10.7 to iTunes 11 automatically, which I was gutted about.
I thought I would try and see if I could go back to iTunes 10.7, and three days later I can say YES, iTunes 10.7 works fine under Mavericks. (NB. I do not own an iPad or iPhone, so I have no experience of which version of iTunes they now require. I do however have an iPod Nano (7th Gen, the newest one) and this is still working perfectly with iTunes 10.7 under Mavericks.
Of course, do a time machine back up first/back up your music folder to another hard drive. I would do this before you upgrade to Mavericks.
How I did it:
1. Locate and save a copy of your iTunes Library.itl file. Luckily I still had one on an external harddrive, because when I upgraded to Mavericks I lost my iTunes 10.7 Library.itl file.
2. Download App Zapper, and zap iTunes 11.
http://www.appzapper.com
3. Download an iTunes 10.7.dmg file.
http://support.apple.com/kb/DL1576?viewlocale=en_US&locale=en_US
4. I used Pacifist 3.0.10. (a newer version is available, just saying what I used) to open the iTunes 10.7.dmg
http://www.charlessoft.com/pacifist_olderversions.html
(NOTE: for every option Pacifist presents you when unpacking the iTunes 10.7.dmg, select 'replace', not 'upgrade')
At first iTunes 10.7 crashed, and I thought this was gonna be a sign of things to come, but I just forced quit, turned the laptop off and back on again, reloaded 50GB of music from my external hard drive, and it has been playing ever since without a glitch!