iTunes 2: "data loss" in Mac OS X due to privileges error; some drives may actually be erased; X installer pulled

Apple has released iTunes 2. Several readers report that the Mac OS X version of the installer completely erased at least some of their partitions. We are investigating. See these threads on MacFixIt Forums and Apple Discussions for more. We will post further updates as we receive more information.

Update: As of about 2 PM EST Saturday, Apple has pulled the Mac OS X version of the iTunes 2 installer, presumably because of the reported problems. Apple's site now says that the "Mac OS X version is coming soon." (Thanks, John Chapman.)

Update: In some cases, the files may not have been erased, but instead their permissions altered so that they no longer appear in the Finder, but will appear in Mac OS 9. However, there seems to be a second issue, were files are actually erased if there is a space in the volume name.

We have not confirmed this information on our own machines. If you downloaded iTunes 2 for Mac OS X this morning and have not installed it yet - don't - just trash the file and await Apple's new installer. We are continuing to seek a complete picture of exactly what happened.