ITunes Funtionality?

As much as I hate Apple, I think it’s about time I put down my Archos 605 WiFi and jump on the bandwagon. I hate to say it, but Apple has the music industry locked up. As for iTunes, is there a feature that lets you “Auto Organize Files” where it will move your music files to a specified folder hierarchy and rename it? Those of you who use MediaMonkey know what I’m talking about:

(From MediaMonkey’s Website)

Automatically organize and rename files on your hard drive into a logical hierarchy. Instead of storing your files haphazardly all over your hard drive, MediaMonkey’s auto-organizer can organize them into folders and filenames of your choice based on attributes such as artist, album, track title and track number.