I just want to make sure we're clear, if we're on the same page. From 
some of your replies, it seems as if you're talking about where iTunes 
expects find find *it's* Music folder, which isn't what I'm talking 
about. Perhaps I wasn't sufficiently clear.

My music isn't in the iTunes folder hierarchy at all.  Nearly all the 
music is on a partition on an external drive, organized in about 15 main 
folders on the root directory of that drive, with lots of sub-folders 
within each of the main folders, most of which have sub-sub-folders -- 
none of which has anything to do with where iTunes would normally store 
music.  So the locations of the iTunes Library or the iTunes Music/Media 
folder have no bearing on this.

If I change the name of the external drive, or move the library to 
another drive, I want iTunes to be able to find all the music (in all of 
their relative sub- and sub-sub-folders).

Is that what you're addressing in your replies?

Yours,
Cal