This script will re-locate the files of the selected iTunes tracks from their current location to a new user-chosen folder. iTunes will be updated with each track's new location and all of each track's meta-data will be preserved. Option to remove the files from their original location. (I don't advise using this on more than an album's worth of tracks or so at a time; re-locating dozens of tracks' files to a single folder doesn't seem to make much sense to me.)
NOTE: If your "Keep iTunes Media folder organized" preference set, you will not be able to create new folders in or re-locate files within the iTunes Media folder; outside is OK.
Requires iTunes 10.0 or better.
Parse Song Names and reassign the parts to other tags
Capitalize the first letter of each word in selected track names
App displays files in iTunes Media folder which are not in iTunes library
Restore each selected track's artwork from an image file stored in its Album folder
Re-locate files of selected tracks to new folder, preserve track meta-data
Re-associate batch of dead tracks with files from selected folder