Thanks for all your help, turingtest2, and I know your advice has helped quite a few people, so more power to you.
But I am talking specifically about the problem of the iTunes Media folder NOT being called "iTunes Media", but something else (in my case "ALAC").
You are talking about moving the iTunes media folder from one drive to another drive, and that works fine, as long as the iTunes Media folder is called "iTunes Media", wherever it is. But my iTunes Media folder was never called "iTunes Media", but "ALAC"), but now this is a problem because the software is broken and cannot remember the actual location of the folder. My current solution is to EVERY SINGLE TIME I open iTunes to got into preferences, got into advanced, set the media folder to the correct one, let iTunes got through thousands of albums, and voila, it works. Until it is re-opened. It is a bug, pure and simple, and one that of really bad coding at that. It should have been corrected long ago.