After iTunes 7 update can't get itunes to open or work

Question

OK...i recently updated to iTunes 7...and seemed to work fine then when i started up my computer today and tried to open up iTunes i got the message:
"The iTunes Library.itl file cannot be found or created. The Default location for this file is in the "iTunes" Folder in the "My Music" folder."
So now i can't open up iTunes and when i keep trying to open it i get that message? Is there any way to get the old version back without losing any data? Or is there any way to fix this so i can get my itunes working properly again?
Gateway   Windows XP  
Gateway   Windows XP  

Answer 1

Follow these steps for that one:
Recreating the iTunes Library file
Follow these steps:
1) Quit iTunes.
2) Locate your iTunes folder.
For Mac OS X the iTunes folder is stored in one of the following locations:
/Users/username/Music
/Users/username/Documents
Note: You may need to check both locations.
For Microsoft Windows the iTunes folder is stored in
\Documents and Settings\username\My Documents\My Music\
3) Open your iTunes folder.
4) Drag the iTunes Music Library.xml to the Desktop
5) Drag the following file from your iTunes folder to the Trash:
Mac OS X: "iTunes Library" (in versions of iTunes prior to 4.9 this was called "iTunes 4 Music Library").
Microsoft Windows: "iTunes Library.itl" (in versions of iTunes prior to 4.9 this was called "iTunes 4 Music Library.itl")
6) Open iTunes.
7) From the File menu, choose Import.
Tip: Do not add any music into iTunes at this point.
8) Navigate to the iTunes Music Library.xml file on the Desktop.
Click Choose.