Okay I just pulled the trigger and per-ordered

There should be an iTunes file within program files. C drive -> program files->
iTunes -> music folder. Someone else chime in here.
 
You can upload anything to google play, i uploaded my itunes when i got my one x and was able to stream it back easy enough. I was really surprised how easily it imported from itunes, should make getting it on my new GS3 easy.:)
 
in the menu select import iTunes library and everything was there playlist and all but google play does work for music as well
 
OK gang.. some of you guys are talking about Google Play which is not what I mentioned. I installed Kies (from Samsung) and as I said, when you click the import files on the Music tab there are NO iTunes folders anywhere to import from. I tried installing the Google music beta to import into but its buggy as hell so I removed it.
 
Well I used kies and I had no problems it never asked me for a folder it just automatically took off and my music was there