Itunes secure connection to store failed

Question

Hi,
I've been using itunes for ages without incident however it now won't connect to the store and I cannot login. Nothing has been changed on the computer as far as I'm aware.
  Microsoft Windows 7 Business Edition Service Pack 1 (Build 7601)
SAMSUNG ELECTRONICS CO., LTD. R519/R719
iTunes 10.6.3.25
QuickTime 7.7.2
FairPlay 1.14.43
Apple Application Support 2.1.9
iPod Updater Library 10.0d2
CD Driver 2.2.0.1
CD Driver DLL 2.1.1.1
Apple Mobile Device 5.2.0.6
Apple Mobile Device Driver 1.59.0.0
Bonjour 3.0.0.10 (333.10)
Gracenote SDK 1.9.6.502
Gracenote MusicID 1.9.6.115
Gracenote Submit 1.9.6.143
Gracenote DSP 1.9.6.45
iTunes Serial Number 0026AB8402C78488
Current user is not an administrator.
The current local date and time is 2012-07-07 17:55:11.
iTunes is not running in safe mode.
WebKit accelerated compositing is enabled.
HDCP is supported.
Core Media is supported.
Video Display Information
Intel Corporation, Mobile Intel(R) 4 Series Express Chipset Family
Intel Corporation, Mobile Intel(R) 4 Series Express Chipset Family
**** External Plug-ins Information ****
No external plug-ins installed.
iPodService 10.6.3.25 is currently running.
iTunesHelper 10.6.3.25 is currently running.
Apple Mobile Device service 3.3.0.0 is currently not running.
**** Network Connectivity Tests ****
Network Adapter Information
Adapter Name: {E2441C24-F9FF-47F1-B333-B954D5BC6173}
Description: Bluetooth Device (Personal Area Network)
IP Address: 0.0.0.0
Subnet Mask: 0.0.0.0
Default Gateway: 0.0.0.0
DHCP Enabled: Yes
DHCP Server:
Lease Obtained: Thu Jan 01 00:00:00 1970
Lease Expires: Thu Jan 01 00:00:00 1970
DNS Servers:
Adapter Name: {EE5EAF46-79B4-41B8-B9E2-39195C70331D}
Description: Microsoft Virtual WiFi Miniport Adapter
IP Address: 0.0.0.0
Subnet Mask: 0.0.0.0
Default Gateway: 0.0.0.0
DHCP Enabled: Yes
DHCP Server:
Lease Obtained: Thu Jan 01 00:00:00 1970
Lease Expires: Thu Jan 01 00:00:00 1970
DNS Servers:
Adapter Name: {898BBBEC-604A-4596-B39B-B791C596F0D2}
Description: Atheros AR9285 Wireless Network Adapter #2
IP Address: 192.168.1.3
Subnet Mask: 255.255.255.0
Default Gateway: 192.168.1.1
DHCP Enabled: Yes
DHCP Server: 192.168.1.1
Lease Obtained: Sat Jul 07 17:31:20 2012
Lease Expires: Sun Jul 08 17:31:20 2012
DNS Servers: 192.168.1.1
Adapter Name: {3D43B4D5-5603-45AE-826E-12797FFC09EA}
Description: Realtek PCIe FE Family Controller
IP Address: 0.0.0.0
Subnet Mask: 0.0.0.0
Default Gateway: 0.0.0.0
DHCP Enabled: Yes
DHCP Server:
Lease Obtained: Thu Jan 01 00:00:00 1970
Lease Expires: Thu Jan 01 00:00:00 1970
DNS Servers:
Active Connection: LAN Connection
Connected: Yes
Online: Yes
Using Modem: No
Using LAN: Yes
Using Proxy: No
Firewall Information
Windows Firewall is on.
iTunes is NOT enabled in Windows Firewall.
Connection attempt to Apple web site was unsuccessful.
The network connection timed out.
Basic connection to the store failed.
The network connection timed out.
Connection attempt to Gracenote server was successful.
The network connection timed out.
Last successful iTunes Store access was 2012-06-09 14:48:11.
　I looked in Windows firewall and itunes is allowed but whatever, this sitch occured whilst using Microsoft Security Essentials which I removed thinking it may be the problem which clearly it wasn't.
No settings have been changed so anything like Netintelligence hasn't been a problem in the past so I can't see any reason why it should suddenly become an issue - besides I never open up netintelligence or use it.
Any help much appreciated. PS I've searched much and tried many of the options already out there to try and fix this.

Answer 1

Can anyone decipher the text below from All Programs, Administrative Tools, Event Viewer, Custom Views, Administrative Events as it may be relevent in finding out what's going on when itunes or anything isn't working right.
The application-specific permission settings do not grant Local Activation permission for the COM Server application with CLSID
{145B4335-FE2A-4927-A040-7C35AD3180EF}
and APPID
{145B4335-FE2A-4927-A040-7C35AD3180EF}
to the user Parent-PC\Learner SID (S-1-5-21-502250249-1756045401-4193677544-1001) from address LocalHost (Using LRPC). This security permission can be modified using the Component Services administrative tool.