I've tried following the article and it was a bit of dismal failure.
When I went into iTunes, many tracks could not be found, and upon checking the new folder it was half the size of the old one - so clearly many of the files simply hadn't copied or, to be more precise, hadn't been 'consolidated'. Any clues?
The process seems unnecessarily complex, when surely all you need to do is move all the media and index files to a new location and repoint iTunes to it. Am I missing something here?!