Move iTunes Moblie Sync location

1. Close iTunes
2. Download junction.exe from Microsoft and in Windows 7, place it in the C:\Windows folder. http://technet.microsoft.com/en-us/sysinternals/bb896768.aspx
3. Remove the folder "C:\Users\%USERNAME%\AppData\Roaming\Apple Computer\MobileSync" and all sub folders. (so there is no MobileSync folder anymore)
4. Create a new forder structure on an other drive for example: "D:\Backup\MobileSync"
5. In Windows 7, open a command promt as an administrator. Now execute the following line....
6. junction.exe C:\Users\%USERNAME%\AppData\Roaming\AppleC~1\MobileSync "D:\Backup\MobileSync" -s
7. The command will have created an folder (looking like a shortcut) in the origional location on the C:\ drive.
8. Now connect your Apple device of choice and watch the folder "D:\Backup\MobileSync" get filled up with stuff.

Code I used:

D:\>junction "C:\Users\[usersName]\AppData\Roaming\Apple Computer\MobileSync" "D:\Backup\MobileSync" -s

Ref: https://discussions.apple.com/message/12442254#12442254

Move iTunes media location

1. Close iTunes
   
2. Copy the iTunes folder from C:\Users\ataylor\Music\[ITUNES] to the new folder Example: D:\Music
3. If you are using Windows, hold down the Shift key and from the Start menu and choose All Programs > iTunes > iTunes.
4. If you are using the Mac, open iTunes and immediately hold down the Option key.
5. You should see one of the following screens:

Some of this article was found here:
http://support.apple.com/kb/HT1589