iTunes 10.3 thinks it's a version below? No ping, locked out from iphone sync my iTunes thinks it's a version below for some reason

I have 10.3 installed (Finder says so, iTunes > About says so) but when I try go into ping it gives me the "See what you're missing, upgrade to 10.3" message - I hadn't worried about this too much before but I just updated my iPhone to the OS 5 beta and now iTunes is not letting me sync at all leaving me with a fairly useless and unsyncable iPhone and crippled iTunes.

I have tried re-installing iTunes (Yes I even deleted all the preference files) I have tried iTunes on another account on my macbook and it gives the same error.

Please help, I need to sync my iPhone!

Here is a screenshot of the Ping message: http://cl.ly/470n472Q2C442b2k0w3Z

Screenshot of the iphone sync message: http://cl.ly/0s3Z1q2g2Y0a29280V0W

Thanks
You're in troubles. :(

How you updated your iphone to IOS5-beta without iTunes 10.5? Asking because iTunes 10.5 is only for developers now.

from the: http://www.appleinsider.com/articles/11/06/06/apple_says_devices_updated_to_ios_5_beta_cant_be_restored_to_earlier_versions.html

In releasing several pieces of pre-release software -- iTunes 10.5, Apple TV 2 beta, Xcode 4.2 Preview and Lion Preview 4 -- to its developer community, Apple on Monday warned testers of its new iOS 5.0 software that any devices updated to the beta cannot be reverted or downgraded to previous versions.

You need iTunes 10.5 - developer release yet - whats mean register yourself as developer for 99USD/year.