Is anyone else having a problem getting the new iTunes (version 11.1.4.62) to recognize their iPod (nano)

I have gone through all the potential solutions (to include m

y fifth iteration of uninstalling and installing iTunes) and I am still getting this errror message

If I have iTunes open it does not appear as a drive. If I have iTunes closed it appeared as drive (F:) until I changed it to appear as drive (I:) with the same results when I plug it in with iTunes open.

I am working with Windows 8 and the previous version of iTunes worked fine.

Any help out there?