Im posting this whereever I find this question. I worked through it earlier in the evening with the help of several posts in other forums of this site.
It seems as though editing the poolrad.cfg file does the trick, however it seems how this file is configured depends on the package which included the game. My version came in the Gamefest Forgotten Realms edition and required the following code to work:
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P
C:\
C:\Poolrad\Save\
F
It is important to realize the entire game was installed to the C:\ directory. The default code in the Poolrad.cfg had both C:\ references set to C:\Poolrad. Although, the second reference may not need to be changed, I created the Save folder in the C:\Poolrad directory, making copying of the character data very easy - nice for backups.
Again, it seems that th code included in the .cfg file is dependent upon which version of the game you are running. If you have a different version check out -
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Thanks to the guys who figured this out back in 2007.
MattSA