I found a really neat tool that does exactly what I was looking to do. I have been having a hell of a time with my FLAC encoder, and the corresponding files tend to get corrupted quite easily. So ultimately I have been ripping to .wav and then compressing to .flac without deleting the .wav and only deleting upon confirming the .flac was good.
This throws a monkey wrench in the playlist creator, since the playlist is made for the .wav's, not the .flacs. Its a very simply fix to change the .wav to .flac but doing so in each playlist for a large collection can be laborious. In comes Wildedit (
http://www.textpad.com/download/wildedit.html).
I use TextPad at work since it is by far and away the best text editor/script writing editor I have ever come across. This is very cool when you write lots of code in an archane language that doesn't have a fancy editor built in since you can define syntax, color codes, etc and it then highlights reserved words, functions, indents automatically, etc. But that is a tangent.
The cool thing you can do with TextPad is open a plethora of files at once, do a global find&replace (for all files open), and then do a save all. So basically you made what would have been a painfully tedious job very quick and easy. This is quite nice when you need to change all scripts or programs you have ever written.
In comes Wildedit, they took that feature of TextPad to its own end and also built in a search function as well, so you can find all files in a directory tree which are the type you are looking for, locate the text inside all those files to replace and edit and save all in one sweep (can also be dangerous if you goof, but easy to put back to normal by the same method).
This is perfect for editing all of your logs or playlists in a large directory system you have created for your music libraries if you need to edit them.
HTHs,
Josh