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It didn't for me. I had to do a computer restore to back to a previous restore point (due to an issue that had nothing to do with the iPhone or iTunes), which was before I installed iTunes 9. That screwed up 9, but I reinstalled iTunes and everything was fine. I backed up my iPhone right after. Oh, and I had to deauthorize and reauthorize iTunes, because it wouldn't let me transfer purchases.
 
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