In my opinion, the easiest way to move a large collection of files and have MC retain those changes is:
1. Make a library backup. File > Library > back up
2. Move your files using the tool you like best. I use rsync. But you could use anything else you like to move all the files and folders. I'm assuming you are moving an entire root directory and keeping everything underneath it exactly the same.
3. In MC, use the "UPDATE DATABASE ONLY" mode of RM&C. This tells MC that you just want to change the internal LOCATION of the files, but MC is not supposed to try to move or copy them.
A. Set mode to "update database only"
B. Uncheck everything else.
C. Check the Find & Replace Section.
D. Set FIND to be your original drive letter
E. Set REPLACE to be the new drive letter.
4. Now go look at the preview pane up top that shows the file names before and after. Do they look correct? Is the exact path what you want it to be? If not, go change FIND and/or REPLACE until the preview looks correct.
5. Press Ok to make the move.
Be careful. Be sure of what you are doing. It's actually pretty straight forward. I've probably done this 20 or more times. RM&C is a great tool.
Best of luck to you.
Brian.