Nina Theodore asks:
I have my Time Capsule serving as my backup time machine and network router. Is it possible to share my iTunes files with Time Capsule so I can delete the music on my Pro and therefore free up gigs of space, but access my iTunes thru Time Capsule?
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Using Time Capsule as a Media Drive
http://gigaom.com/apple/using-time-capsule-as-a-media-drive/
https://discussions.apple.com/message/6723737?messageID=6723737&tstart=0#6723737?messageID=6723737&tstart=0
iTunes for Mac: Moving your iTunes Media folder
http://support.apple.com/kb/HT1449
Time Capsule as file and media server
http://www.youtube.com/watch?v=ThPENAH59gU
Generally speaking yes. As ha14 already linked you can use your Time Capsule as a simple Network Share or “Media Drive”.
However, what you have to consider is how Time Machine works:
Time Machine will keep saving hourly, daily and weekly backups until the storage is full.
No need to worry about Time Machine, it works. However for your media that means you could be running out of space to save new media within iTunes! Then you would have to manually “fiddle” with the TM backups ~ worst case you have a useless [incomplete] backup on your Time Capsule.
The only way around this would be to partition the Time Capsules hard drive. In order to do so you have to disassemble it (warranty voided) and have to connect it directly or via an external case to your computer.
Also from personal experience I have seen Time Machine failing to the point where you have to reset the Time Capsule and format it’s entire storage.
The other problem is the speed. If you are using a wired Gigabit connection things should be fine. Via WiFi however iTunes is probably going to be rather slow, especially with a rather large library.