Basic Foobar Question

My cd collection is saved in lossless format on my PC's HD in iTunes. It's sent wirelessly downstairs to a Zardoz (modded Airport Express) that's wired to my pre. Based on the positive comments regarding Foobar, I now want to make the move to using Foobar in lieu of iTunes. Is it just a simple matter of moving my music files from iTunes to Foobar? Will I lose the current tags? And if I add a cd in the future, does Foobar pull in the tag info like iTunes, or will I have to type in the all the info? Is it possible to retain iTunes thereby having 2 music libraries -one to play my music via Foobar on my high end system and a second library in iTunes that will retain my wife's music that she likes to have on her iPod?
My files are organized the same as you have it. Because iTunes is easier to manage, I keep my Apple lossless files that way and convert them to WAV files in Foobar. A playlist for the day will be a matter of seconds to convert - that will be the only inconvenience.

Moving everything to Foobar will be possible and should be easy if you are computer savvy. However, I prefer not to go this way because I still use the Apple lossless format in mobile devices.
It should be easy. Install Foobar and use the same music folder as you do for iTunes when you set it up.
Simply import all of your music collection and the file tags should be the same.
So, if I understand everyone correctly, I can run Foobar and iTunes on the same PC without creating a problem - right? Is there any downside to doing this? Because if there is, I've been thinking about maybe simplifying things by buying a used Mac and having a separate "apple" system (w/Foobar) downstairs for streaming my music to my audio system and leaving the old PC-based system (w/iTunes) upstairs for my wife. That way I can avoid any possibility of messing up PC. Really basic question - since we have a router upstairs on the PC so my wife can access the internet from her laptop, will I need to buy a second router for the downstairs Mac?
The only problem is file associations.
You have to choose whether a double click (in Win Explorer/My Computer) opens in itunes or Foobar. Once either player is opened though, a click on a tune will play it with the open player.

iTunes is the most convenient.
JPlay treats your ears best.
Why to use Foobar? You send data to your AE in packets. Data has no timing (recreated by AE). Nothing on your computer side make difference (unless program does data processing - like upsampling).

Standard AE has decent digital output (258ps jitter) but 10x worse analog out. I don't know what modification does but getting reclocking (upsampling DAC) or separate reclocker (even better) and the DAC might improve sound.