The unix style of file locking sure is showing it's advantage over Windows. Not that rebooting for an OS upgrade is too onerous, but using Windows one has to reboot for the most trivial things - Adobe Acrobat, Skype updates and the like.
This has been said many times before but on OSX you actually need to reboot after updating Safari. I'm not 100% sure about iTunes but I believe it still needs a reboot after updating.
Hopefully that will get fixed. Generally the reason why the reboot is required is because WebKit gets updated and that is a library that is loaded into various different applications the best way to restart all of them is to reboot, with the new state keeping that Lion is doing that will become simpler.