The problem with iTunes 11 is that it's iTunes 11. Bloated pointless garbage.
Have you used iTunes 11?
It has been completely redesigned and is significantly faster than iTunes 10 (whether or not it randomly freezes my computer like iTunes 10 remains to be seen).
So tell me...is there a comparable product that serves the same purpose - that is free to the end user, easy enough that even a grandma can use it, is frequently updated and manages as many types of media formats and types as iTunes? There is a reason that iTunes is (arguably) the most widely used and most popular media management program.
I've been using iTunes for for years and in that time have tried probably dozens of music management programs; including WMP, Media Monkey (purchased), Zune and others and still use iTunes to rip and manage my collection, as I've found that all music management programs seem to have some issues, but iTunes remains the easiest solution for the rest of the family to use so until a superior product comes along...iTunes it is.