Luckily after I asked nicely iTunes allowed me to redownload my purchases. I had a backup from July '07 anyways so all wouldn't have been lost, but I still bought a LOT of stuff between then and now
I know not to do that again, but that does leave me with a bit of a question: how *DO* you go about combining the contents of two folders without overwriting everything? For a big nest of folders going into every one individually and dragging them out seems like it would be INCREDIBLY painful. I might just resort to using cp at the command line as the Unix commands don't behave that way (at least not on Linux - I'm at work and can't try it on a Mac right now
PS Other pet peeve - why is there no option to synchronize two computer's iTunes libraries? You can sync an iPod. You can sync an AppleTV. But syncing my two Macs or my PC's so that I have all my data stored in more than one place? Blashpemy!