iTunes video player doesn't work. Has anyone seen this screen when playing videos?

iTunes video player doesn't work. Has anyone seen this screen when playing videos? Every time I play a video or video podcast in iTunes, it looks like this:
Asked by: Guest \| Views: 313

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Guest [Entry]

"From Troubleshooting iTunes for Windows XP and 2000 video playback performance issues:

Check your system requirements
Update your software
Increase Display Color Quality
Disable Direct3D video acceleration
in QuickTime
Disable DirectX in QuickTime
Modify your System Drive
Configuration

The article contains detailed explanations with screenshots.
Although mentioning Windows XP, the advice given is still more or less correct for Vista & 7."