MacNN reports that a Los Angeles jury decided no, iTunes is simply another distribution channel, so Em will not be receiving the $1.47 million he was after. Bummer, dude.
This certainly isn't the first time Eminem's legal team has clashed with Apple's. Back in May of 2005, Apple was forced to pull an iPod ad that featured a young user singing (Rapping? Speaking?) the lyrics to "Lose Yourself." The story at the time was that Eminem refused to give Apple permission to use the song, but they did anyway.
Later that same year, the folks at Lugz footwear had Apple pull an Eminem-approved TV ad that looked a lot like their own. Oops.