Oh the joys that MS Office 2010 brings are endless these days. One of the most frustrating things for me was trying to move my defaults pst file that Outlook creates. I would move it and outlook would re-create a new one in the old location and re-download all my e-mail there.

So after some digging I found how to specify a new location.

open regedit

HKEY_CURRENT_USER\Software\Microsoft\Office\14.0\Outlook\

Create a new Expandable String Value

Name it ForcePSTPath

now modify this registry key with the new path of where you want your pst located.