Can I exclude itunes from the Software Update feature in system preference? I've reverted from 11 back to 10.7 three times by now because I keep forgetting to uncheck iTunes whenever it prompts me to install patches. I'd like to be able to tell the updater to skip over iTunes automatically.
In the Software Update app, select the update and select Ignore Update... from the Update menu.

If you ever want to bring it back, select Reset Ignored Updates from the Software Update menu.