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.
Exports and then re-imports selected tracks' artwork
Capitalize the first letter of each word in selected track names
Export files of tracks in two or more playlists to single folder
Change file type to make selected AACs bookmarkable
App displays files in iTunes Music folder which are not in iTunes library
App displays files in iTunes Media folder which are not in iTunes library