Once extracted from the iPod, you can add music to your iTunes library and even sync it with your iPhone. To do so, you just need to consider your iPod as an external drive that you can take music from. If that's the case, grab your old music player, because you can transfer the music from your iPod to your computer.
Do you have an old iPod that's sitting around gathering dust? It might still have old music on it that you no longer possess in any other form.