Currently Being ModeratedJan 14, 2013 6:51 PM (in response to Huck)
In the iTunes preferences have you tried the option under the Advanced tab to Change the location of your iTunes Media Folder location?
This might point you in the right direction
So on your external drive is all of your media in a folder called itunes or is it just music, movies etc. just in a bunch of folders that iTunes is not organizing?