ITunes freezes MacBook Pro after Mountain Lion reinstall

A bad sector on my Macbook Pro (synched to my iMac) occurred within days of my first Mountain Lion update. I reinstalled Mountain lion, and used migration assistant with time machine to reinstall everything else.
It was working for 8 hours when I decided to turn on iTunes. What resulted was the bouncing iTunes logo stopped bouncing, and Finder stopped working, until the whole computer seized up. After a hard reboot, I got the same behavior. Each time iTunes freezes, after 10 minutes, you get
"A required iTunes compoenent is not installed." Please reinstall iTunes (-42403).
Can you do this in Mountain Lion? And is this just a symptom of a larger problem?  Disk Utilities permissions doesn't help. And the hard drive is OK.

Did you ever have the WiFI card on your machine replaced ? Have you tried taking it to an Apple Store ?

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