Thanks for your quick response Michael!
iTunes Match is turned on my work iMac, where I make all my purchases, and organize my music. At home I have it turned on my macbook pro, but I only use that to back up my iphone and stream music to my audio devices, and ocassionaly add some music to my ipod.
I had to resort to terminal and a sudo ditto command to copy the folder from my time machine. For some reason restoring it through time machine caused it to hang on some .itc data file, I was starting to panic for a second, but it's all there.