Fixed or consistent mount location for a USB hard drive

I store my music on an external hard drive, and play them with foobar2k. However, the drive letter changes, which usually means I need to rebuild a fairly large playlist every so often.

I'm wondering if there's a way to reserve a drive letter for a specific external device (or type of device) by device ID or volume name, or if I'm better off using a NTFS mount point, and re-mounting the drive to a folder each time.

I'm using either a Windows XP or 7 system, and the external drive is NTFS.

Use Disk Management to assign a letter. It will stick. My thumb drive was set to Y and it is always Y.

Right click My Computer and choose manage, Then in Disk Management: right click the drive and assign it a new letter. Lower in the alphabet the better,