I'm using iTunes 10 here Windows 7 (32bit), and aside from not liking the new UI for it, and thinking Ping is an over-hyped waste of space,.. I'm not having any trouble.
As for the drivers
, if you know what you have you cant just grab them from the Manufacturers site, if not, you can find them listed in device manager. Windows maybe be able to update them automatically. If not, at least you'll know what you have and where to go to find drivers.
Also out of curiosity, since iTunes uses it heavily, do you have Quicktime installed? It should have installed with iTunes, but may have gotten messed up.
First thing I would do, after checking to update your drivers, is download a fresh copy of iTunes, uninstall your current one and reboot, then install the fresh one you just downloaded.