Oh man. Now it's come to this.
@strideh. Buddy. Ye who fears the cracker. Check it:
You're talking about /etc/hosts. On the computer. How if you have an entry pointing to localhost (127.0.0.1), that's bad and makes you vulnerable.
I replied that if you have an entry for something.apple.com pointing to localhost, blah blah. The implication is that we're both talking about /etc/hosts on the computer, where iTunes is running. Let me be more clear, though, since you lack a clue:
Generally, if you have an entry in /etc/hosts (on your computer, where iTunes is running) that directs something.apple.com (not actually "something" in this case, but I'm using that as a placeholder to imply that I don't know what your specific /etc/hosts entry is. I could also use *.apple.com, but that might be misconstrued as literally *.apple.com, which isn't going to work because you can't use wildcards in /etc/hosts), that means that you've jailbroken your iPhone and are looking to install some previous version of IOS (on the iPhone, not on your computer) and need to bypass Apple's signing server. You're probably also running TinyUmbrella on your computer, and thus it answers on localhost as something.apple.com (or the aforementioned unknown entry in /etc/hosts) and tricks iTunes (on your computer) into thinking it's talking to Apple's signing server.
So, to answer your question, you're the one still here making noise. Fear the cracker, boy. Fear them all.
I'm out of here, kiddies. Y'all can keep this thread and rub poop in each other's faces for the rest of time. Thanks to all who provided positive feedback and good alternatives for a solution to the problem, and for the rest of you...well...you can figure it out.