iTunes Match Question from a nervous potential user

hope can question before take "itunes match plunge"

have huge music collection on itunes, on 40,000 music files - , i'm aware of 25,000 limit. music collection organized way want them - data, album art etc organized - not want of info changed.

thing want itunes match collection this:

of 40,000 files, 10,000 of files under 256kbps aac (ripped @ 192kbps mp3). other 30,000 files either 320kbps or lossless. i'd use itunes match upgrade 192 mp3 files 256 aac files. don't want itunes match touch other 30,000 files.

once itunes match can this, i'll delete 10,000 files hard drive , replace/re-download them 256 aac files.

questions:
1. can done?
2. if so, have re-organize 10,000 files (tags, album art etc . . .)?

 

it not replace metadata existing files. when delete lower bit rate files, entries in itunes remain show cloud icon can use download itunes' copy. new downloads inherit metadata old files.

 

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