The new icon has been growing on me recently. It does look more 'modern' to me if you know what I mean. Certainly the older iTunes icon doesn't look as stylish as the new one. I'm liking it!
The new icon is OK, it looks more professional and smooth. And almost everyone is buying songs from the iTunes Store or other websites (like RealPlayer's Rhashody and I think Windows Media Player has one too), not buying CDs and ripping them. It makes sense to take out the CD.
But I don't use iTunes 10, I still have iTunes 4 on my iBook's Mac OS X system and 2.0 on my Mac OS 9 system.
I like it better than I liked the new Gap logo. Now that was something worth complaining about.
That being said, I really don't pay much attention to it. When it was first introduced I thought it was a bit plain, but after installation, it just became another icon on my dock.
at first i didn't like it, but i think that was just shell shock from the change.
i even replaced the logo for a while with that purple one that was circulating after the announcement. the purple one, however, was way too heavy. it looked much worse in the dock and i switched back. the only thing i don't like about the new itunes logo now is how dated it makes the safari logo look.
I like many others here didn't actually like the icon at first but that was just because I was used to the old one. After a few days it has grown on me significantly. Change can be traumatic at first....
I think that the new "grey" colour scheme in iTunes also is better, despite first not liking that either. It does seem to help one to focus more on content.
The new icon has been growing on me recently. It does look more 'modern' to me if you know what I mean. Certainly the older iTunes icon doesn't look as stylish as the new one. I'm liking it!