Remember, the iOS version needs to match the version of iTunes, otherwise you won't be able to sync/backup. For those who have lost track of which version is which, the table below will help you match your version of iOS to iTunes.
iOS
iTunes
iOS 5 Beta 1
9A5220p
iTunes 10.5 Beta 1
10.5b27 (27)
iOS 5 Beta 2
9A5248d
iTunes 10.5 Beta 2
10.5b43 (43)
iOS 5 Beta 3
9A5259f
iTunes 10.5 Beta 3
10.5b48 (48)
iOS 5 Beta 4
9A5274d
iTunes 10.5 Beta 4
Let me know how you go and what new functions you discover in iOS 5 beta 3.