Can I Have Multiple iTunes Libraries? Is there a way for iTunes to have multiple distinct libraries?

The actual problem I'm looking to solve with this question stems from my desire to use iTunes Match.  It would appear that I can't use this service because my library currently has approximately 32,000 songs.

Now, I have lots of playlists to differentiate many of the songs.  (And this problem could be very easily solved if I could just use iTunes Match on a playlist-by-playlist basis.)  But it's looking more and more like if I want to use this service then I'll need to remove approximately 7,000 songs from my library.  (Even more as I continue to add to it.)

Finding 7,000 songs (or more) that I simply don't listen to and removing them is certainly doable.  However, I don't want to completely and utterly remove them.  They are a part of my library.  And, even though I don't listen to all of them, other people might.

They don't need to synchronize to my iOS devices for my personal use, but my library is increasingly becoming a shared household resource for family members and guests.  And I don't want to remove items from that selection simply because of my own personal listening habits.  (For example, I'd probably end up removing a ton of children's music that I don't listen to, but my own children are getting to an age where they can make use of such a shared resource and listen to it.)

To that end, is there any other way I can divide or organize my collection such that I can use Apple's cloud services to synchronize more of my own music than my devices could otherwise hold without losing the family resource I currently have?
Hold down the Option key when you launch iTunes. You will be asked to choose an existing library, or create a new library. You can search the web for iTunes multiple libraries and find the answer.

I suggest that you create a new iTunes library, move songs that you don't listen on a regular basis over there. If you already have them in a play list, just export them from your primary library and import in the other library.