Apple has posted an article describing a new way to backup your iTunes library in iTunes 7 -
“iTunes 7 offers a new way to back up your iTunes library, playlists, and iTunes Store purchases for safekeeping. The Back Up to Disc feature saves your media to a blank disc (CD or DVD) and once backed up, iTunes can use your backup disc(s) to automatically restore your iTunes library. If you have iTunes 5 or 6, click here.
To reduce the number of discs needed for a backup, iTunes can perform incremental backups (only items added or changed since the last backup).”
This is a nice addition to iTunes, and something that everyone with a large iTunes library (and a small one for that matter) should be doing on a regular basis.
Kudos to Apple for adding this cool bit of back up functionality.