Itunes not running on Lion????!

I just downloaded the newest operating system 10.7 lion and now it doesn't seem to be compatible with either the newest updated 10.4 Itunes or 10.5 Beta Itunes. What could be the reason behind this and how do I go about fixing it pleeeaassee??? I have been going crazy trying to fix this issue.

Perhaps describing what actually happens when you try to us it may help.

I'm running iTunes 10.4 on Lion 10.7 with no problems at all.
So, something has happened that is interfering with normal functions. As requested, please provide your Mac's specs and details about what you do and what happens when you do it.

Top message says that check with developer to make sure this version of Itunes is compatible with this version of OS yada yada yada.

NOTE: maybe it has something to do with downloading lion of a torrent? It seems to be functioning all the same aside from Itunes not working.

here is spec details
*****
Process: iTunes [344]
Path: /Applications/iTunes.app/Contents/MacOS/iTunes
Identifier: com.apple.iTunes
Version: 10.4 (10.4)
Build Info: iTunes-10408001~1
Code Type: X86-64 (Native)
Parent Process: launchd [108]

Date/Time: 2011-08-14 12:35:34.914 -0700
OS Version: Mac OS X 10.7 (11A390)
Report Version: 8
Sleep/Wake UUID: 235C6CCA-FD7E-4285-B083-73E7117AB976

Interval Since Last Report: 15823 sec
Crashes Since Last Report: 30
Per-App Crashes Since Last Report: 30
Anonymous UUID: FB40822D-EBFE-4DCB-BE17-8388541838CA

Crashed Thread: 0

Exception Type: EXC_BREAKPOINT (SIGTRAP)
Exception Codes: 0x0000000000000002, 0x0000000000000000

Application Specific Information:
dyld: launch, loading dependent libraries
@executable_path/../Frameworks/iPodUpdater.framework/Versions/A/iPodUpdater

Dyld Error Message:
Library not loaded: @executable_path/../Frameworks/iPodUpdater.framework/Versions/A/iPodUpdater
Referenced from: /Applications/iTunes.app/Contents/MacOS/iTunes
Reason: unsafe use of @executable_path in /Applications/iTunes.app/Contents/MacOS/iTunes with restricted binary

Binary Images:
0x105e97000 - 0x106dc7fe7 com.apple.iTunes (10.4 - 10.4) <73B152D5-6088-0047-3C63-0A466B55E7EF> /Applications/iTunes.app/Contents/MacOS/iTunes
0x7fff65a97000 - 0x7fff65acc1ff dyld (195 - ???) <71093406-21CF-3DBE-A001-802259ED5300> /usr/lib/dyld

Model: MacBookPro5,5, BootROM MBP55.00AC.B03, 2 processors, Intel Core 2 Duo, 2.26 GHz, 2 GB, SMC 1.47f2
Graphics: NVIDIA GeForce 9400M, NVIDIA GeForce 9400M, PCI, 256 MB
Memory Module: BANK 0/DIMM0, 1 GB, DDR3, 1067 MHz, 0x802C, 0x384A53463132383634485A2D314731463120
Memory Module: BANK 1/DIMM0, 1 GB, DDR3, 1067 MHz, 0x802C, 0x384A53463132383634485A2D314731463120
AirPort: spairport_wireless_card_type_airport_extreme (0x14E4, 0x8D), Broadcom BCM43xx 1.0 5.100.198.11 )
Bluetooth: Version 2.5.0b13, 2 service, 19 devices, 1 incoming serial ports
Network Service: AirPort, AirPort, en1
Serial ATA Device: TOSHIBA MK2555GSXF, 250.06 GB
Serial ATA Device: HL-DT-ST DVDRW GS23N
USB Device: Internal Memory Card Reader, apple_vendor_id, 0x8403, 0x26500000 / 2
USB Device: Built-in iSight, apple_vendor_id, 0x8507, 0x24400000 / 2
USB Device: Apple Internal Keyboard / Trackpad, apple_vendor_id, 0x0236, 0x04600000 / 3
USB Device: IR Receiver, apple_vendor_id, 0x8242, 0x04500000 / 2
USB Device: BRCM2046 Hub, 0x0a5c (Broadcom Corp.), 0x4500, 0x06100000 / 2
USB Device: Bluetooth USB Host Controller, apple_vendor_id, 0x8213, 0x06110000 / 4

Downloading Lion in a torrent is Illegal, against the law and against the Forum rules. No farther help will be provided for a Torrent version. Lion is $29.99. Buy it then iTunes will work just fine.

We obey USA Laws here at Mac Forums.