If you aren't backing up your iTunes library you should. I am just a litltle obessed with my library. I have mine backed up in two different locations. One of which is an external USB that I only use to back up my library to.
If disaster does strike and you lose everything, you may not be completely out of luck. This is of course assuming that you’ve synced a good portion of your library to an iPod, iPhone, or iPad. In most cases, unless you’ve purchased something on one of your devices, Apple’s iTunes syncing is a one-way street, computer to device. But with some tricks and software, you can recover your music, videos, and more.
This is where iRip2 from the little app factory comes into play. It only costs $20. This version of iRip2 is only available for Mac OX 10.5 or later, iRip2's website indicates that a windows version is due out sometime in 2011.
The applicatin is good for more than restoring lost files from your iOS device. it can also be used to extract files from your iOS device to transfer to other copmuters. One situation to use this application for other than just for backup reasons is copying a movie from your iPhone to watch on your MacBook Pro while on the road. Or maybe you want to add a new album you downloaded directly to your iPad from the iTunes Store to your work computer (not the Mac you sync with, that is). Whatever the reason, knowing how to do so is a valuable tool in your media arsenal.