I recently updated iTunes and was pleasantly surprised with what I found. I think Apple have done a good job refreshing it and choosing which features are the most important for users in 2012. It was about time they
added fixed the play next stuff. However I had one issue, where had airplay gone?!
As it turns out not very far, there is just a strange bug that means it doesn’t always show up for people when they first update.
Here is how I fixed it in the end.
Make sure you are not in full screen mode. Then click on the icon that turns iTunes into the miniPlayer (top right, next to the full screen icon). In the miniPlayer view the Airplay icon should be visible.
Hope that works for you too.
I’ll just add that I really like the prominence airplay gets in the new version of iTunes and I real like how you can adjust the respective volumes of all the airplay device currently in use from the single dropdown. Very handy.