On iTunes, no u wont lose your play-list but u will lose everything on your iPod though so back it up b4 u update it.
You probably have been installing newer versions of iTunes onto your PC/Mac for several years, without losing your iTunes Library, and without losing your playlist(s). So, reinstalling iTunes, just once more, should behave identically.
If you are "worried", then open your My Documents Folder.
Then, make a backup copy of your "My Music" folder,
and its subfolders.
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