I haven't seen anyone else post about this bug.
When iTunes 7.0.1 (also in 7.0) the Cover Flow view doesn't work correctly.
On just about every other song it displays the wrong album art. I mean this is ridiculous.
Also, when advancing to the next album art using the arrows of the album art viewer in the lower left-hand corner, iTunes is extremely slow.
In fact the whole app seems to have gotten a dose of rheumatism and alzheimers. Whoever programmed this must have made major changes to the iTunes architecture and guess what - it's not working correctly.
Please Apple, fix iTunes! I know you can do it! 🙂