A recent version of Jemplode will allow you to download all playlists and will put them in a tree structure that matches your playlist tree.

You can use its options to customize the downloaded file names, too. Currently, I am using the following:

{artist} - {source} ({year}, {genre}) - {pos:2} - {title}.mp3

This allows me to have all the tag info inserted into the filename in case I need to use Tag Studio to work around this issue.

I have a question for Mike:

In Jemplode, there's a box that says "fix up tags". Does this do what I think it does? Can you elaborate on its function?