Unchecked items will also skip during playback. I use them most for "deluxe edition" albums and the like that have a bunch of demos I don't want to hear on shuffle.
Album name will need fixing, depending on which copy you use to reconstruct the album. If you delete tracks from an album, then copy the album elsewhere, iTunes has no way of knowing which tracks you've deleted so it can't magically include tracks that exist only in other albums.
Im trying using iTunes to unload my iPhone, from VoiceMemos that take space.
Of course i dont want just to delete them, i wish to store them on my hard drive.