Ok,
If your moving 500 albums I personally wouldn't recommend doing it from inside MC.
v9 is a beta and although it's pretty stable and rock solid, 500 albums in my opinion are just too valuable to risk it with.
Do it with something like WinCommander, or explorer.
Close down MC, move all your files from say:
C:\My Music\......
to:
F:\My Music\.....
Then open up MC and do a find and replace.
Type in:
Find What: C:\My Music\
Replace: F:\My Music\
and then check: filename
Obviously replacing the names above with whatever they are going to be on your system.
Doing it this way just means you get to just exactly copy all your folders, with everything in them, and the exact same setup to your new hard drive.
If u'd like to re-arrange them and re-sort them onto your new drive however then use MC's: Rename from properties and choose the template u want all ur songs to be in on ur new drive.
One way of doing this nicely might be to use MC's album type to group your albums by various artist/single artist or something.
I personally used the first method and it worked great.