Apple recently updated iTunes to version 10.0.1 which, among other things, added drop-down access to Ping, Apple's social network for iTunes customers, into your library. Some of you like Ping more than others, and there are those in the latter group who are completely disinterested.
The Mac Observer explains how you can eliminate that drop-down menu from iTunes 10 entirely. The procedure is simple. First, quit iTunes, launch Terminal and enter the following:
Finally, quit Terminal and re-launch iTunes. Presto! The drop-down is gone. The Mac Observer also describes how to restore the menu as well as how to re-orient the control buttons in the upper left-hand corner to a horizontal, rather than vertical, position. Hop over to find out how.defaults write com.apple.iTunes hide-ping-dropdown -bool TRUE