I initialized again, and this time it seemed to work (even though I'm not aware of doing anything different.)
The "Update Now" function, however, simply isn't working. After the update, Tagcache shows me ONLY the songs that have been synched since the last initialize. In other words, I rip an album, then sync the iPod. I then tell tagcache to "update now." When it's through, I reboot, and the ONLY album on the iPod is the one that I just synched. ALL the other albums are missing. The only way to get Tagcache to see them again is to fully "initialize" the iPod again, which takes a lot longer.
Bottom line: On this 5G iPod, the Tagcache "Update Now" function does not work properly. This has been the case for the last several builds I've tried, including the 8/31 build.
Thanks for any help or other information on this,