[solitaire]

Same here. I was able to connect with iTunes 11.x.x.x with Calibre 2.5.0. Today, iTunes has been updated to V12.0.1.26 which I can see as a major update.

calibre Debug log
calibre 2.7 [64bit] isfrozen: True is64bit: True
Windows-7-6.1.7601-SP1 Windows ('64bit', 'WindowsPE')
('Windows', '7', '6.1.7601')
Python 2.7.8
Windows: ('7', '6.1.7601', 'SP1', 'Multiprocessor Free')
Successfully initialized third party plugins: Quality Check && Reading List && Author Book Count && Barnes & Noble && Count Pages && Search The Internet && eReader PDB 2 PML && FictionDB && Fantastic Fiction && Similar Stories && Goodreads && View Manager && Manage Series && Find Duplicates && EpubSplit && Open With
Starting up...
Traceback (most recent call last):
File "site-packages\calibre\gui2\ui.py", line 166, in __init__
File "site-packages\calibre\gui2\ui.py", line 180, in init_iaction
File "site-packages\calibre\customize\__init__.py", line 580, in load_actual_plugin
File "importlib\__init__.py", line 37, in import_module
File "site-packages\calibre\customize\zipplugin.py", line 179, in load_module
File "calibre_plugins.similar_stories.action", line 12, in <module>
ImportError: No module named PyQt4.Qt
Started up in 11.72 seconds with 574 books
Traceback (most recent call last):
File "site-packages\calibre\devices\apple\driver.py", line 3372, in __init__
File "site-packages\calibre\devices\apple\driver.py", line 2632, in _launch_iTunes
OpenFeedback: Unable to launch iTunes.
Try launching calibre as Administrator
Unable to open itunes as device (None)
Traceback (most recent call last):
File "site-packages\calibre\gui2\device.py", line 389, in run
File "site-packages\calibre\devices\apple\driver.py", line 3376, in __init__
UserFeedback: unable to launch iTunes