I for one would LOVE for iTunes to be stripped down to JUST MUSIC. And have a separate program, maybe called "iLife", that acts as an aggregator for all content accross the iLife suite. It would resemble front row, but with a less graphical interface. This would house a built-in movie rental store as well, much like onTV.
iTunes is already part of the iLife suite. If anyone has any older Mac OS X or iLife discs, you could get an old version of iTunes on there. Mac OS X v10.0 had iTunes 1.1, the first OS X version. If you're really desperate and you still have a PPC, maybe you can get your hands on SoundJam MP.