A Python script that traverses an organized iTunes Music directory and enumerates the artists and albums in the library.

music_traverse.py

import os

def traverse():
    artists = None
    for dirpath, dnames, fnames in os.walk("./Music/"):
        if artists is None and len(dnames) > 0:
            artists = {el:[] for el in dnames}
        elif len(dnames) > 0:
            head, tail = os.path.split(dirpath)
            if tail not in artists:
                artists[tail] = []
            artists[tail].extend(dnames)

    list_artists = list(artists.iteritems())
    list_artists.sort(key=lambda tup: tup[0].lower())
    
    for artist, albums in list_artists:
        if len(albums) > 0:
            print 'a:', artist
            for title in albums:
                print '  -', title

if __name__ == '__main__':
    traverse()

Example output:

a: Weird Al Yankovic
  - Mandatory Fun
  - Straight Outta Lynwood
  - The Essential Weird Al Yankovic
a: Wet Wet Wet
  - Unknown Album
a: Whitesnake
  - Whitesnake
a: Will Smith
  - Big Willie Style
a: Williams & McKnight
  - Unknown Album
a: Willie Nelson
  - Unknown Album
a: Willie Nelson & J Iglesias
  - Unknown Album
a: WIN WIN
  - Primaries
a: Yeah Yeah Yeahs
  - Fever To Tell (Parental Advisory)
a: Yeasayer
  - Fragrant World
a: Yellowcard
  - Lights And Sounds
  - Ocean Avenue
  - One For The Kids
  - Paper Walls
  - Southern Air
  - When You're Through Thinking, Say Yes
a: Young the Giant
  - My Body - Single
a: Zedd
  - Clarity
  - Clarity (feat. Foxes) - Single
a: ZZ Top
  - Eliminator