OK, a quick update for anyone who's interested...
Waiting for iTunes 11.5 (or more likely 11.4.1) wasn't an option, as the first time I tried to sync my iPad I now get this error message which is stopping syncing.

So, this has forced my hand into addressing the problem.
I went to the following folder...
Macintosh HD >> System >> Library >> Extensions >>...and found this file that was the culprit...
AppleUSBEthernetHost.kextI moved this into a new folder called "OLD" just in case I need it later, but notice the Modified Date shown here...

I then downloaded the standalone iTunes 11.4 installer from the Apple website - before running it, I tried to trash the existing iTunes application but it wouldn't let me, saying something along the lines of "You can't remove iTunes as it is required by the system" - WFT, Apple? OK, so I left the existing iTunes 11.4 in place and just ran the installer anyway, didn't have much choice really!
Afterwards, I checked the "Extensions" folder again and the "AppleUSBEthernetHost.kext" file had been replaced. However, notice the modified date on this one...

...strangely, the modified date isn't closer to when iTunes 11.4 was released. You'd expect a date in September, or maybe late August, wouldn't you? Also, having done a "Get Info" on both the replaced file and the old one, both are listed as "Version 7.0" - it's just the created and modified dates that are different. I guess at some point Apple have updated this kext file but maybe kept the version number the same - sloppy coding if you ask me!
Anyway, connected my iPad now and syncing is working, so I'm a happy bunny again. Still, you shouldn't have to do this, and not everyone would be able or willing to fiddle around with system extensions. You'd have thought this would have been picked up in beta testing - sadly, with iOS 8 and Yosamite taking priority, I suspect Apple's software developers are stretched to breaking point.