I would also like to make a suggestion that the icon change is just the first step in more to come. Apple doesnt often completely change something. They will make several smaller changes over time to get to the result they want and will hold the hand of the consumer all the way along. In iTunes 11 the musical note will be changed to something more appropriate and in iTunes 12 the name will be changed to something more appropriate.

And there will be little consumer confusion because by the time the icon is completely redone and the name is changed it will still be the same iTunes we've been using for years, just with 1 small incremental update