Seems I'm not alone thinking that iTunes needs to be split up into at least two, maybe more separate apps.
So here’s my suggestion. Break iTunes into separate tools for separate functions. An app that plays audio content. An app for browsing and buying in the Store. An app for managing iDevices. Break it up into its component parts, let each one do its thing. Independently, and when required.
Now this is interesting. I have been toying with the idea to buy a Flip camera, but I know I'm going to get the next iPhone. Maybe I'll get my small, portable video camera without having to make tough decisions :)