This might not be ideal for you because it's a different software approach, but have you looked into Plex? I can use my iphone to access my Plex media server, and stream music or media from it to any computer in the house that has a Plex player running on it (or to the iphone itself). You'd be able to leave your itunes library exactly as-is, just set up Plex with an iTunes library plugin (really easy to do), and it makes your entire itunes library accessible through Plex.
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