Hi magic,
If you can save a backup a copy of your 'music library' to an External HDD before you reinstall iTunes this will prevent you losing all your ripped CDs and music library should anything go wrong during the reinstall. That's the first thing I would do. (\Users\username\Music\iTunes\)
According to the link I posted above for you, you should not lose your music library when reinstalling iTunes.
Don't delete any files - just download the latest version of iTunes for Windows from this link:
http://www.apple.com/uk/itunes/download/
Follow the instructions on screen and reinstall the software as normal.
Hopefully this will solve your 'driver' issues.
Failing that, try posting this same question in the
Technology section for further help.
Who's Mark by the way?