Over the years I have used various programs to help manage my audio (almost 4TB last I looked) but I found the best solution all the way around is just good file structure. I do it with all of my data.
For example
Documents
-Personal
--2012
---January
----Online Purchases
Pictures
--Ashley
---2010
----Spring
----Summer
----Fall
--Keira
---2012
----Birth
Music
-Metallica
--S&M
--Reload
and so on. For my music I do have a DB I update once a month that i load into the player. Otherwise it would take days. It takes way too long to make smaller playlists so I just use one large DB, dump it in, and use random or search for something specific.