I have update iTunes to the latest version yesterday. Up to her everything is fine. Due to ther issues I had to go back to the Windows RESTORE point previous to the iTune installation.

itune request a update to 11.1, and when i try to update, i keep getting this message "This application has failed to start MSVCR80.dll was not found. Re_installing the Apps may fix this problem. when i hit ok, then i get this message: iTunes was not installed correctly. please reinstall iTunes.
Error 7 (windows error 126)
i reinstall twice, and still i get this message, my question is, do i lose everything i had on my pc, even thou i have a backup?

Hello, ito215. 
Thank you for visiting Apple Support Communities.
Here is the troubleshooting article that I would recommend going through as it should correct this issue.
iTunes 11.1.4 for Windows: Unable to install or open
http://support.apple.com/kb/TS5376
Cheers,
Jason H.

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