What I really like about this, is you really put your point of view of what iTunes 10 would seem like for you! Also, You really hit a fresh modern look...! & the colors make it look sleek! Another thing that was unique, was that you used bubbles inside of the logo..ANOTHER modern look!
BUT..I feel you made it a little bit crowded at the bottom there with the menu. I looked at it, and i saw the menu, and then there is all that space at the top, it made it seem all stuffed together! And, I think there was really no need for adding too many logos..one would have been enough, which would have given you enough room for the menu.
Other than that, you really made it work out nicely! Great work!