Had similar issues with iTunes 12...no device icon via wifi or when devices are tethered. Running Mavericks with 6 devices (5 on 7.1.2; 1 on 8.0.2). iTunes very slow to launch (up to 45 seconds). When tethered; the 7.1.2 devices (only) would kick off iPhoto for downloads; the 8.0.2 device would not. Further; when tethered all devices would ask to "Trust Computer"...repeatedly.
Performed numerous restarts on devices and iMac, turned wifi off/on (all devices), reset network (all devices), and deauthorizing/authorizing iMac in iTunes...nothing helped.
What worked for me: iTunesHelper seems to be my culprit. Go to System Preferences > Users & Groups > Login Items and checked off iTunesHelper. Restarted the machine. All back to working order (save for wifi sync on 8.0.2 device...which is another kettle of fish).