I have been using iTunes ever since I got my first Mac 6 years ago. What I like most about iTunes is its compatiblity with other Mac applications. Making movies with iMovie or editing music in GarageBand, You can take songs straight from your iTunes library and include them in your projects. What I dislike about iTunes are the constant software updates, which are for new store applications and such. I have stopped updating mine from verison 2.2 and find it to suite all my mp3 playing needs.
iTunes can also play .wav, .aif, .aiff, .mp4, and other various types of music files. iTunes also has a audio converter making it easy to convert files to any size mp3.
iTunes has a large store which has millions of music titles for sale for 99 cents a song. The store also has movies, television shows, and applications for your iPhone or iPod.iTunes store also has a large selection of full albums for sale at a discounted price, rather than buying each song individually. The iTunes store also has a automatic artwork finder for any album you load onto your iPod.
Other functions iTunes has is the ability to share your music library with users on a simliar network. You can play music from one computer on an other computer plugged into the same network. This is helpful for sharing music within the same household or across a university campus.
iTunes does not work with any other media player than an iPod. But with an iPod there are many controls such as automatic update which makes it easy to manage your music library.You can also select a manual update to pick and choose which song you want to add to your iPod.
Itunes is a great application for managing your music and overall multimedia library.