Starting with iTunes 4.5, Apple implemented those little grey arrows next to the song title, artist, and album, which will take you to the corresponding match in the iTunes Music Store. To change the behavior of these arrows so that instead of going to the store, it will take you to your library instead, you can do either one of two ways:
- Hit option key when you click the arrow.
- Change it permamnently by executing this from the terminal:
defaults write com.apple.iTunes invertStoreLinks -bool YES
Make sure iTunes is not running when you execute this command.