I recently replaced my system and in doing so, I the drive location of all my mp3s moved. Since I use Winamp to actually listen to my music on my PC and have always just relied on file locations for everything, moving my directories around is not a big deal. However, when I bought my iPod a while back, I started using MediaMonkey to track my library—mainly because it was the best tool I could find for syncing music to my iPod.
The problem with moving your music collection is that it can really cause problems with media managers—since they have their own storage mechanisms. While I could have just re-imported everything, I have some pretty complex libraries I use for synching to my iPod and didn't really want to lose that work. Since I knew MediaMonkey uses a SQLite database, I figured I could just easily update the database with my new locations.
Fortunately, I find this easy to follow guide on How to Tell MediaMonkey Your Files Are on a New Drive. The guide gives you complete steps on updating the database with the new drive information and even provides a tool you'd need to update the drive serial number in the database.
This works very well if all you've done is move the files from one drive to another (which was what I did.) Unfortunately, if you also re-arranged your files into a different subfolder architecture—you're going to have other issues. However, since all I did was move my main file from one drive to another, this guide worked extremely well for me and saved me a bunch of time from having to rebuild my sync preferences.