I noticed that I had to repair Permissions after installing the iTunes 7.0.2 update via Software Update.

Here is the info from Disk Utility:

Repairing permissions for “Macintosh HD”
Determining correct file permissions.
Permissions differ on ./Applications/iTunes.app/Contents/Frameworks/InternetUtilities.bundle/Contents/MacOS/InternetUtilities, should be -rw-rw-r-- , they are -rwxrwxr-x
Owner and group corrected on ./Applications/iTunes.app/Contents/Frameworks/InternetUtilities.bundle/Contents/MacOS/InternetUtilities
Permissions corrected on ./Applications/iTunes.app/Contents/Frameworks/InternetUtilities.bundle/Contents/MacOS/InternetUtilities

Permissions repair complete
The privileges have been verified or repaired on the selected volume

iTunes 7.0.2 update also rebuilt my iTunes 7.0.1 database. Other than that, 7.0.2 is a bit faster for me.