iTunes freezes and doesn't respond when connecting iPhone 4

Well yesterday I had the two of the most common problems that a lot of people seem to be having with iTunes after the latest update- opening iTunes and not getting my iPhone 4 to be recognized. I solved the iTunes problem last night and iPhone is now being recognized on my computer but when I connect it to my computer iTunes automatically freezes and stops responding. When I disconnect it and restart iTunes it responds again and runs smoothly like nothing happened.

When it freezes beside "iTunes Store" it says "iPhone" and it seems like it freezes while it's trying to sync my phone. I've tried restarting my computer, leaving it connected before starting iTunes, waiting until iTunes comes up to connect it, but whatever I do iTunes just won't work with my iPhone connected. Any ideas on how to fix this?