iTunaes match - ruined my library, I want to fix

here's what happened: a very well-meaning spouse of mine tried to free up space on my mac by subscribing to itunes match. i don't know what happened exactly, but next time i opened iTunes, all my playlists were gone, all my play counts were gone, and a lot of music i had meticulously organized by renaming titles, album artists, etc., had reverted to previous titles, and so my library was all disorganized and a mess. also, if music had been uploaded to the cloud, i can access it just fine from my mac and iphone, but it cant sync to my ipods, which is where i need it.

i turned off itunes match, and disabled auto-renew. but i want to restore my old library. i have Time Machine. if i restore the entire Music, or the entire iTunes folder, from a previous day, will it restore my library? will the fact that i am subscribed to itunes match override that?

on a related note, the Music folder is 200 gigs. i currently have 10 gigs free. i didn't realize that to restore something, you need space - i just thought it over-rode old files. so if i delete the entire music folder, which is very scary to me, will that be enough space to restore it? some people have told me i need double, but there is no way i could free up 200 gigs on my computer.

thanks for your time.