When I went to iTunes as instructed it said it detected a phone that needed to restore. I followed the instructions which included a 2 hour download of "restore information" and 45 min of processing. Finally it said that restore failed and advised me to update my iTunes and the operating system on my computer or buy a new computer. Is this legitimate advice ? How likely is a restore to work even if updated? My computer already has windows 7 and the latest update on iTunes..
You say you "have the latest update on iTunes. There was an update to iTunes last week (or over this past weekend) (version 11.1.4). Did you install that?