Oh NO! iTunes error -50, now won't open, help!

Question

I was editing some song data, I received a -50 error - stating the library sould not be saved. I kept getting the error, tried closing but it locked up. So I had to force quit. Now when I open iTunes, it checks the database, then I get the text menu at the top of the screen, but that's it. What can I do to fix this?
I'm a DJ and I use iTunes daily to sort my data. Although I don't "DJ" with iTunes, I do use it all the time to import, add and sort my music. Please, what can I do to fix this?
My library has nearly 40,000 titles! Right now iTunes is open on the Dock, the Menu bar is at the top, but no iTunes window (with the library will appear)
Message was edited by: powermixx

Answer 1

Solved?
Once I disconected my iPhone and 3rd Gen ipod, iTunes popped open. I was going to recover from my latst backup (a week ago) but it seems to be working. I've edited, closed and reopened and it appears to be working. But I've learned that I am going to write another script (I used to have one) that I can click to backup my iTunes library data. I will place those backup files ON my external HD (where my iTunes music is). This way, I don't have to rely on a Time Machine backup - which is different external drive.
Message was edited by: powermixx