You shouldn't try to "downgrade" Front Row, as it's far deeper rooted 
in the system than might appear. It would likely give you problems on 
the first OS update at the latest.

Front Row doesn't have an API that would allow the same level of 
control as over iTunes. You can still use the "Remote" module of the 
AJAX Remote to navigate in Front Row, though - just as if you had a 
"real" remote in your hands.

Depending on how you listen to your music, the full screen cover flow 
mode in iTunes may be a replacement of sorts or not. Fullscreen 
Coverflow, too, will not update if a playlist is modified or switched 
in the background, though.

Best regards, 
Felix