I regularly want to make a copy of my outlook.pst file and bring it to
another location. Right now the file location buried in a sub-sub
directory \Documents and Settings\[name]\local settings\application
data, which I think is the default setting. Sometimes I forget the exact
location or have to get to it in explorer to copy it to a flash drive
and them transport it.

Is there any reason I could not move it to say: C:\outlook data? Are
there any disadvantages in doing so?