Yeah, but if you do a Google search for Itunes deleting music files, you'll find a lot of unhappy people out there.
And, I may be a dumbass, but I know all about files and whatnot, and I'm telling you, Itunes killed some of my music. I agree about the importance of backing up -- luckily I had all of this stuff on another comp -- but you should be able to trust good software not to fuck you over.