Hmmm. I have to admit I get my music off CD via Soundforge and save as either .wav or .mp3 and then drag and drop them to the sound track. Never used itunes, but accessing the folder should presumably be the same.
Click on the speaker icon, it defaults to pinnacles own sound effects folder, the click on the folder icon next to the drop down menu, a normal browser window opens, go to your itunes folder, and double click the music you want. The whole folder should open, drag the tune you want to the timeline.
Win XP, Athlon 1.8, G force 3 T, 1 60gig drive + 1 250 gig, Pinnacle Studio 9 plus mostly, Premiere 6, and Vegas 5 sometimes, Soundforge, Cool Edit.