Well, no, but it's buggier than v6. I don't even own an iPod, yet I've got iTunes as my music manager...in anticipation of getting and iPod (cough). So I dutifully "upgraded" to v7.
99% of the time all is well. The playback is better...most of the time. But every now and again, the sound starts crackling and fluttering and sounding like exquisitely tuned crap. Apparently this is happening to a lot of people, whether they're running Windows or Mac OS. For me, the solution is easy.
I pause, count to "one", then resume playback. Voila. Annoying, but not lethal.
Nonetheless, I can hardly wait for the coming-soon update, patch, fix, etc.
And people say that Apple walks on water.... Ha!