I have been using the new iTunes 12.5.3 for most of the day and it has been working just fine for me. BitPerfect Users can install this update with confidence.
It might be too early to proclaim this from the rooftops, but the early indications are that this update may have finally gone some way to addressing the Gapless Playback problem that has plagued BitPerfect since day one. Those of you that have read this post on Gapless Playback will know that at the end of every track BitPerfect queues up the next track by pre-loading it into memory, but iTunes often provides the wrong information when it identifies what the next track is. The result is that BitPerfect queues up the wrong track, resulting in a glitch when BitPerfect discovers what has happened and switches to the right track. Well, the indications are that Apple has made some changes to iTunes in this area and as result is identifying the correct track most (if not all) of the time. Stay tuned, and as the picture gets clearer I will post a more detailed assessment.