I think it might be a mistake to try and find something that will do all of that.
The reason is, managing your library is a different beast from displaying an easy to use touchfriendly front end. They really are very different use cases.
Id concentrate instead on finding a front end that does touchscreen right for you, and then find a library manager to handle things like ripping, tagging, assigning album art, etc.
For the management functions, I really like JRiver media center, but many people recommend Media Monkey.
For the front end, I've been very happy with AlbumPlayer, but it doesn't do karaoke. It does have a plug in to display lyrics that works nicely though.