defaults write com.apple.iTunes invertStoreLinks -bool YES

In iTunes, the little clickable ➜ links to the iTunes Music Store are regarded with dismissal as money-spinning bloat. Thing is, they turn out to have a useful second face.

Hold down ⌥ and click an arrow link. Rather than be taken to the iTunes Music Store, you’re instead taken to that artist’s section in your own music library. It allows you to jump to that artist or album from any playlist; handy if you want to hear more, or get access to file system operations like deleting files.

The above invertStoreLinks hidden preference inverts the click behaviour for the links. So run the above in Terminal, and from now on the store links will link to your own library by default. Should you want to visit the store, holding ⌥ now invokes that behaviour. Inverted, see?