[geerlingguy]

This is how I manage my music library, and other than the fact that iTunes Match could potentially 'eat up' a song you import into it if it matches to a different but similar-name/time track, it's been great.

I always keep a second copy of all my original rips just because I'm worried that kind of thing could happen—if not immediately, then later on when I sync a new computer and iTunes Match finds some new song that conflicts.