OK, here's my update....
Got ITBS in the middle of a long run almost 2 weeks ago. Ran it home. (ouch). Ran again on it. (ouch). Ran again, got a clue. Rested completely for 4 days while icing 4x daily all aong the band.
I bought some "repair" enzymes at the health food store. I already take fish oil. Upped the fish oil intake overall.
Days 4-8: Brought icing down to 1x a day. Did 20 min. yoga session 2x daily. Did ITBand stretches 3x daily. Did hip strengthening 1x daily. Used tiger balm liniment to warm up band before stretching. Used a Homedic massager 1x daily on band until foam roller arrived, then switched to rolling on that -- so far just 1x daily. I'm adding in today a "rehab" exercise for strengthening the IT band overall. Changed shoes and added a gel heel lift for non-affected, slightly shorter leg.
Today, Day 8, I laced up and went out. Ran/walked 1.4 miles overall. WHOO HOO! I stopped running
immediately upon feeling anything in my knee. Ran almost a mile of the total 1.4 by alternating. I FEEL GREAT! Am I cured? Not by a longshot! But, the interesting thing is that I'm now feeling the pain sensation in my IT band and not my knee.
Tomorrow, I get a myofasical release massage. Monday and Tuesday, I get acupuncture (I've had great results with injuries and acupuncture before, so I'm really dying to get on the table and get stuck, so to speak)

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Oh, as background, I started running in Feb...been an athlete most of my life except for the last 5 years of mostly nothing! Running mileage was in low to mid 20s since August. No major increase in mileage the week this happened --but was running in new territory with crowned roads...and had moved furniture down a couple flights of stairs the day before.
I'll be glad to post links to the stretches, exercises, etc. if anyone is interested. Just let me know.