[cdonnellytx]

It is a sub-standard app based on a cross-platform layer of software (Carbon) that has not been updated to take advantage of platform enhancements (i.e., Windows 7).

Granted, it's not third-party since Apple owns the Carbon layer and iTunes, but then again, Flash isn't third-party for Adobe's in-house developers for the very same reason. Perhaps this is what Jobs means by "painful experience".