iTunes has become so bloated over the years to the point of becoming practically an OS onto its own. From music player to syncing music was great. Adding movies and tv shows, it stayed within the multimedia library manager. Moving on to a device manager for all iOS devices took it too far. Managing apps, photo albums, iOS firmware updates and everything else turned it into a bloated do-everything platform. I'm cautiously optimistic that iTunes 11 has finally shed this bloat. While it's not clear from the video, the drop down menu doesn't seem to contain a device manager. I see: Music Movies Tv Shows Podcasts Books Maybe the delay in releasing iTunes 11 is in finishing an iCloud manager? iTunes itself was functional and appeared ready. An update to Mountain Lion's iCloud settings panel (and a Windows iCloud app) could be in Mountain Lion 10.8.3 and might be a pre-requisite for the iTunes launch.