If you have the skydrive desktop application installed and you want to move the folder, you may run into trouble if your skydrive is the same user id as your windows log in. You won't be able to disconnect your account, which is the easy way to reconfigure your file path - disconnect and reconnect the account from the desktop application. If you need to move the folder, quit the desktop app from the systray, delete the folder and favorite link from the sidebar, and then relaunch the desktop application. It will tell you it can't find the folder, and allow you to reconnect to your account, complete with an option to set the desktop path.