Folks
The problem is that these 150 GB + libraries are much, much larger than anything considered when iTunes was developed. And still is. The slowness is reading and writing to the database file. Every change means rewriting the entire file - quite fast for a 2 gig library, interminable for a really big library. (Consider the time it takes to open a 50 - 60 MB Photoshop file, or to save it, that's what you're doing when you read or write to the db file in iTunes.)
Yes a faster disk will make a difference, as will more RAM, but not that much. The simple fact of the matter is that iTunes doesn't scale well, and to make it scale well you'll need to re-design it to take account of really large libraries.
The work arounds are there: Multiple libraries. Hold down the
option (or alt) key when launching and create a new library. How you split them up - by genre, by artist, whatever - is up to you. You can only have one library open at a time, which can be a pain. But do you really need
all 40,000 tracks available, all the time? It's a work around, not a solution, but until they remake iTunes, it might be the best solution.
Another option is to use different software:
Songbird is an open source app that is under active development. It's got iPod support now. I'm not sure what its' support for really large libraries is, but you can email them and see if they can build it in.
Finally, to the poster above who is terrified of losing the database file: Back It Up. Before you make changes, just simply duplicate it in the Finder (File -> Duplicate). Then do the same after. If the db file goes pear shaped, simply replace it with the copy.
This problem will not be rectified in Leopard, it's not an OS problem. Give as much
Feedback as you can to Apple, maybe they'll redesign it for iTunes 8.
Regards
TD