How to Transfer an iTunes Library from one computer to another computer?

How to transfer an Itunes file from one computer to another? I came across this interesting tips here.

I am sharing with you folks.

INSTRUCTIONS

1. There are 2 ways to do this. You can tranfer your library to back-up discs or to your iPod using your USB cable. To use back-up discs, you’ll need iTunes 7 or higher and follow steps 2 through 7. To use your iPod, follow steps 8 through 13. Back-up discs are recommended if you have a large library because your iPod may not hold the entire library.
2. Open up iTunes.
3. Click FILE.
4. Click BACK UP TO DISC.
5. Select “Back up entire iTunes library and playlists”.
6. Click BACK UP. If your library is quite large, then you may need to insert subsequent discs to transfer your entire library. You will be prompted to insert the disc(s).
7. Once the transfer is complete, open up iTunes 7 or higher on the new computer and insert the back-up discs one-by-one when instructed.
8. Connect your iPod to your PC via the USB cable.
9. Be sure to “enable disk use” on your iPod. To do this, open iTunes, select your iPod in the source pane under the devices section, click the SUMMARY tab, click the MANUALLY MANAGE MUSIC button, click OK, click APPLY.
10. Make sure that “copy files to iTunes music folder when adding to library” is selected by clicking EDIT, PREFERENCES, ADVANCED, GENERAL. If not, check it and click OK.
11. Choose CONSOLIDATE LIBRARY from the ADVANCED menu and click CONSOLIDATE.
12. Quit iTunes, locate your iPod and drag the iTunes folder to the iPod.
13. On your new computer (make sure iTunes 7 is already installed), connect your iPod, locate your iPod, drag your iTunes folder from the iPod to the MY MUSIC folder.

SUGGESTIONS

Do not remove discs during back-up and do not remove USB cable during transfer.