iTunes 10.4, Now 64-bit and Made for Lion

"Apple has released iTunes 10.4, with 64-bit support and Mac OS X Lion compatibility."

I'm sure it was compatible with Lion before, but this version was designed to work with Lion. And, wait for it... it is a 64-bit Cocoa application. You can use the Full-Screen App capability with it now to ease your program use. If you aren't sure what Full-Screen Apps are all about (basically using all of your screen real estate), Apple has a nice informational page set up here. iWork was also included in the updates today so it can also work seamlessly with Lion.