This script can save you two (and possibly as many as four) mouse clicks! It tells you the file path of the track currently playing in iTunes in a dismissable alert-type box. You can also choose to reveal the actual MP3 file in the Finder.
Perhaps Also of Interest...
downloaded 14m 20s ago
Export files of tracks in two or more playlists to single folder
downloaded 29m 3s ago
Batch-change the Album Rating for the albums of selected tracks
downloaded 36m 57s ago
Search Wikipedia using the Song Name, Album, Artist, or Composer of selected or playing track
downloaded 42m 5s ago
Advance or rewind the currently playing track an entered number of seconds
downloaded 2h 15m 27s ago
Gather audio tracks whose files contain no artwork metadata
downloaded 2h 48m 19s ago
Set choice of various number tags of selected tracks incrementally