as the title asks - if all of my music files are in the itunes media/music folder - is there any reason to keep the older version itunes music folder?
No, you can get rid of it. I personally would move it to another drive and use iTunes for while just to make sure there wasn't something there that iTunes was using. You can kind of do this by consolidating your library just to make sure.
iTunes 10 for Mac: Consolidate your iTunes library - http://support.apple.com/kb/PH990
if all my files are in the itunes media/music folder - can/should I get rid of the itunes music folder?
