IT BAND FORUM! This is terrific.
I ran into IT band pain while training for my first marathon. My reaction then was to take it easy, get some massages and go for it.
This time around (for marathon number 2), I am working the FOAM ROLLER like a son-of-a-b*tch.
The first 5 days, this damn piece of foam made me sweat and curse just by rolling my leg on it. BUT, after 5-7 days, the pain went away.
I can now just roll around on my IT bands without any hint of pain. AND THE BEST THING!...no IT band problems whatsoever.
So buy a foam roller (Dick's sporting goods, Fred Meyer, most running stores, etc.) and get set for intense pain followed by an immense satisfaction from getting rid of the IT problems.
Best of luck!