I need to know too😡
I ****ed up my library when setting up my old ipod for someone I sold it too. I reset the ipod's playcount and pressed sync ipod after that, because I had to 'sync away' the photo's. Maybe stupid, but no big deal if there would have been an import function.
Edit:
Took me hours to find out how to fix it.
1. Uninstall iTunes 8
2. Backup your iTunes folder in My Documents/My Music (or somewhere else if you have a mac)
3. Install iTunes 7.7
4. Import Library
5. Wait a year for iTunes to import all. Determine gapless playback information takes most time.
6. Install iTunes 8.
7. Probably have to wait another year for Genius to reconfigure.