iTunes does rip accurately; when it rips accurately. I can count on one hand the number of discs from my own collection I've had trouble with, I can count on 2 hands and a foot the number of discs I've had trouble with that belong to my wife/kids.
How did I discover this? Upon a listen there would be very apparent artifacts present in the ALAC file. This could be that iTunes error checking is not as robust as EAC's, it could be that iTunes doesn't get a high enough priority in the cue and we get cpu hiccups, causing corruption, whatever the case, those few cds were unrippable and/or with errors with iTunes or anything other than EAC and with EAC, those discs took 10 to 20 hours to rip.
So where does this leave me? When I rip, I tend to do them in batches. I like the peace of mind using EAC because I know if the disc can't be ripped by EAC, then it needs to be replaced.
What I like about iTunes though is the ease of use. Set error flag to on, insert disc, iTunes autodetects, auto imports CDDB info, starts to rip to ALAC, automatically adds to library and automatically searches out album art. When it works, it is the smoothest slickest system I've yet dealt with.
Being paranoid, I never use this for lossless ripping, just AAC to the iPod. when I am ripping for archival purposes, EAC to FLAC, transcode with dbpoweramp. The next version of dbpoweramp is supposedly going to have error correction on par with EAC, if so, I'll be a dbpoweramp convert.