Good plan.
The reason I was trying to avoid that is just silly. A couple of years ago when I got that iPod, I didn't have iTunes initially. My home computer was on a slow dial-up at the time, and eventually it took hours to download over several sessions. I didn't have admin privileges for my office computer. A friend took the iPod and copied over some files from her own computer for me to play with, and she also bought me something from the iTunes store using her own identity.
Because of that, I have never been able to move these files off that iPod to either of my own computers. It wasn't an expensive purchase, and I suppose I should just buy it again, but it's the principle of the thing.
If I do as you suggest, I'll lose that purchase. But I can restore all my other playlists, so I'm just being silly. I can't play it, practically, anyway.
Rolfe.