How do I point iTunes to a new drive after my Windows hard drive crashed?

Essentially yes. That said I would suggest a couple of additional steps:

First check that you don't have an existing iTunes Library.itl file in D:\iTunes that you can reconnect to. If you do then you should be able to hold down shift as you launch iTunes, open that file, and recover your library, playlists, etc.

Otherwise...

1. Rename your existing D:\iTunes folder as D:\Not iTunes.
2. Hold down shift when launching iTunes so that you get an option to choose or create a library.
3. Click create library and save the new library as iTunes in D:\
4. Delete the folder D:\iTunes\iTunes Media that has been created.
5. Drag your folder D:\Not iTunes\iTunes Music into D:\iTunes then rename it to D:\iTunes\iTunes Media.
6. Now use File > Add Folder to Library... and select the D:\iTunes\iTunes Media folder.

The reason I suggest this is to avoid accidentally duplicating all of your media by using a different media folder for the library and location that you're going to import from. iTunes now uses the name iTunes Media for the media folder, and although you're supposed to be able to select a different folder some users find that any non-standard path doesn't stick.

If you have any .wav files in your library media folder would be interpreted as Unknown Aritst/Unknown Album when reimported. Under Edit > Preferences > Advanced turn off the option to Keep the iTunes Media folder organized before you import the media folder, then see a script called TagFromFilename to apply the details that should remain in the filepath to the library when run on a selection of .wav tracks. Once you have recovered this information you can turn Keep organized on again.

tt2

Launch iTunes with the Shift key held down, create a new library in iTunes, and drag the iTunes Music folder to the open iTunes program window.

(236082)

You're welcome. 🙂

tt2