My internal hard drive is somewhat small, and I only regularly listen to a fraction of my iTunes library anyway, so I'd like to keep large portions on it on an external drive for archival purposes. Since dealing with multiple iTunes libraries is somewhat painful, the solution I'm looking for is to move individual items of the library to a different location, without compromising the "Keep organized" and "Copy files" settings.

I found an AppleScript that I assume is supposed to do this, Move Files To Folder…, but it instead copies them, and doesn't update the library accordingly.

I can do this manually by moving the file, then accessing it in iTunes — it'll prompt me for the new location. I just don't intend to do this one by one for thousands of files.