Inexplicably, there's no way to relink your entire Premiere Pro project to a new source directory. For example, if you want to switch from the original footage to color-corrected footage.
Instead, you get to do this, OVER AND OVER. You have to try to relink every clip, one at a time. If you happen to find one that actually exists in the new source location, Premiere MIGHT try to relink others there.
Unbelievable.