iTunes 10 bug: wacky Sonix SN9C201 WebCam plug-in error (updated 2x)

Like any self-respecting Machead, I rushed to download the iTunes 10 release last night so that I could play with its new social networking feature, Ping. I downloaded it directly from the iTunes Web site and skipped the the Software Update version.

To my dismay I can't launch the software and am getting this bizarre error message.

"iTunes quit unexpectedly while using the Sonix SN9C201 WebCam plug-in"

The bizarre thing is that I've never installed the "Sonix SN9C201 WebCam plug-in" nor can I understand why iTunes 10 would need to access a WebCam plug-in.

A little searching revealed that others are suffering from the same bug. This thread on the Apple Discussion boards has 32 replies and 3 pages (at press time). An Apple Employee (Roy B) is asking afflicted customers to email him their crash logs -- which I did.

Are you getting the same error?

Update: iTunes 10 is now running for me in Safe Mode (no extensions). Hold down Command and Option when launching the app.

Update2: Removing "Sonix SN9C201 WebCam.component" from HDD/Library/QuickTime folder allows iTunes 10 to launch and run normally for me. Some in the Apple thread have reported that removing "DesktopVideoOut.component" from the same folder fixed the problem for them. The Sonix SN9C201 WebCam.component may have been installed by Skype (which I use regularly) but this hasn't been confirmed.