iTunes 11 - how to roll back to previous version

This thread is for those not happy with iTunes 11, but already upgraded, regret it, and wish to go back.

For whatever reason.

Please, no arguments about which one is better or why. Don't judge.

So, if you've already decided to revert to the previous version of iTunes, here are the questions, and hopefully, the answers.

Thanks to those who provide help...

Reverting is not as clean cut as just replacing the new version with the one in your backup. I didn't use Time Machine, but a clone, but the principle is the same.

• When you first try replacing it, you'll need to change the iTunes.app permissions or send the new iTunes to the trash, since OS X wont let you replace it as easily.
  
• You'll also need to bring back the old iTunes libraries too, or it wont open.
  
• Once replaced, every time I open iTunes it gives me a bunch of weird errors, the most troubling one being not recognizing my iPhone...

I used to have my library configured in two mac so I could manage my iPhone and iPods in both.... I guess that's broken too.

Once reverted, it also breaks the link with the Remote app on my phone... I'm yet to see if my Apple TV also gets any problems.

Any ideas on what are these error messages and how to fix them?