I tried getting the latest version of iTunes to work on Windows 7 SP1...No luck . Fakking Apple!
In addition to the installer, they are also using the artificial blocking on the main executable, iTunes.exe . So even if you extract all the files from iTunes64.msi file using the msiexec /a command, it still won't launch the application due to the aforementioned OS-block. Not even the Application Verifier will help.
I did however manage to successfully update the WebKit component to a newer version. Just copy these files to the working iTunes installation:
JavaScriptCore.dll
WebKit.dll,
WTF.dll (the filename's also appropriate to the situation we're dealing with here).
I haven't tried logging in nor have I tried to access any of the purchases/content available in the store, so a word of caution there. I also didn't test whether the newer drivers included in the setup bundle would also successfully work.