I agree, iTunes being this almighty container is just starting to get.. well, embarrasing. With that said, I'll still upgrade, but I'm still waiting for them to break it up into several smaller apps or just find a new name that is logical.

Over to the icon, sure, the idea of removing the CD is nice in theory, but that has got to be the ugliest icon apple has EVER made. That's the biggest reason not to upgrade IMO. Ew.