Parse the selected iTunes tracks' Song Names such that the same first Item text in "First Item - Second Item - Third Item" is removed and copied to another user-selected tag in each selected track (Album, Artist, Composer, Genre, Grouping, or Comments), leaving "Second Item - Third Item" in the Song Name. Run the script again to similarly remove and copy "Second Item" to another tag, and so on. Read Me explains more, and how to customize for different separator characters. Screenshot speaks volumes.
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Remove selected tracks and Trash or delete their files