I've just posted two scripts to control iTunes and Pandora (via PandoraBoy) to the user contribution library (http://www.perceptiveautomation.com/filelib/index.php?id=101.
The goal was to have iTunes and Pandora both be controlled with the same buttons, and simplify the control as much as possible. Additionally, I use AirFoil to control speakers throughout the house, so I have some control code for that configured as well.
Through the course of developing these scripts, I quickly came to the realization that I needed to subscribe to Pandora to have it work correctly, so I wouldn't recommend use with the "free" version.
Control of the three applications can be done independently of one another - you don't need to use Pandora to use iTunes and/or AirFoil. Additionally, you can use AirFoil in conjunction with the iTunes sync / control scripts included with Indigo, ignoring the iTunes control functions (and variables) included with this application.