in Windows XP get "library file cannot be saved" message. Discuss.

I use iTunes with Windows XP on my LG Notebook (just as I do on my iMac where I can also rip music from my CD collection). I use my LG Notebook mostly as a glorified jukebox converting all my CDs to mp3's and storing them on a terrabite drive attacted to my LG computer (which is in turn connected to my home stereo system). Recently (during the last 3 or 4 weeks) I have received the following message:

The iTunes Library file cannot be saved. You do not have enough access priviledge for this operation.

[Checkbox] Do not warn me again. [Button] OK

I do not know what the message means exactly or whether it is likely to affect any functions of iTunes that i utilize on my PC. I don't even really know what my iTunes Library File is nor how it operates or to what purpose. Getting the message does not seem to effect the functionality of the application as regards my limited use of iTunes.

In fact I do not use any resourses of iTunes but its functionality as a mp3 player to listen to my songlists and install music on my iPod. I do not use iCloud or purchase mp3's on the web. I subscribe to no podcasts nor watch any streamed video etc. The above message first appeared on iTunes 10 and not knowing how to deal with it I just ignored it. Then I emptied about a third of my computer's drive and it seemed to disappear for a week or so. When it returned two days ago I upgraded to iTunes 11, partly because my iTunes 10 seemed to be stalling or hanging. ITunes 11 worked fine for a day then the message returned. Despite the message it still seems to work fine. I feel tempted to check the [Do not warn me again] box but do not know if I will just be ignoring a potential problem. Despite the message (and the fact that iTunes runs slow on occsion) it seems to function just fine.

Could someone inform me on what's going on here and advise on how to deal with the situation?