Currently Being ModeratedNov 22, 2012 9:25 AM (in response to c0edx)
Are you sure the change "took"? Changing the location in preferences should put all your media (not sure about apps) on the drive you designated. In fact it shold also present you with the option to move all previous media too, or just start storing new media there.
iTunes for Mac: Moving your iTunes Media folder - http://support.apple.com/kb/HT1449