I'm getting this error message- "*iTunes Library.itl* cannot be read beacuse it was created by a newer version of itunes."

I have my iTunes on a Windows XP operating system. My iTunes Library is stored on a external hard drive(H) with a desktop shortcut on the C drive pointing to the H drive where the iTunes LIbrary is located. I have it set up so that when I click the iTunes desktop shortcut it routes to the H drive and retrieves my iTunes Library from there. I've had a hard drive crash before and lost all of my iTunes Library.
So, if all of that makes any sense, I got a new desktop computer with Windows 7 Operating System and went online and downloaded the most recent iTunes softwear. I then attached the external hard drive from my old Windows XP system to the new Windows 7 Sytem. I routed it the same way I had it on the old system, but i keep getting this error message- "The file *iTunes Library.itl* cannot be read because it was created by a newer version of iTunes." To make matters worse, I tried to put the external hard drive back on my initial Windows XP Sytem and now its giving me the same error message. I know its alot to digest, but can anybody help me?????

For general library squiffiness following an upgrade or crash the easiest thing is to restore your last backup, but I guess if it were that simple you wouldn't be here.
Empty/corrupt library after upgrade/crash
Hopefully it's not been too long since you last upgraded iTunes, in fact if you get an empty/incomplete library immediately after upgrading then with the following steps you shouldn't lose a thing or need to do any further housekeeping. In the Previous iTunes Libraries folder should be a number of dated iTunes Library files. Take the most recent of these andcopy it into the iTunes folder. Rename iTunes Library.itl as iTunes Library (Corrupt).itl and then rename the restored file as iTunes Library.itl. Start iTunes. Should all be good, bar any recent additions to or deletions from your library.
See iTunes Folder Watch for a tool to catch up with any changes since the backup file was created.
PS There is also a new iTunes build to download today, so might be worth getting that. A new iTunes should always load an older library file.
tt2

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