This script converts the files of the selected tracks in iTunes using an encoder of your choice on-the-fly (restoring your Preferences-set encoder afterwards). The newly converted files are then moved to a new location of your choice, and their tracks removed from iTunes.
Also see M3Unify, an application that provides many more options for converting/exporting files from iTunes.
Perhaps Also of Interest...
downloaded 7m 8s ago
Assists with finding truncated iTunes Match tracks
downloaded 10m 5s ago
Creates a text file listing audio files in a Music folder not added to iTunes
downloaded 20m 26s ago
Remove iTunes tracks disassociated from files
downloaded 21m 0s ago
Locates pairs of track entries pointing to the same file
downloaded 24m 29s ago
Re-locate files of selected tracks to new folder, preserve track meta-data
downloaded 25m 4s ago
Displays files in iTunes Media folder not in iTunes track library