Upgrade to Vault 4.0 problem

[pcorkum]

We were testing out what would happen with an upgrade to Vault 4.0. Things did not go as hoped. Our checkouts fail as it tries to run the vault.exe file from the VS2003_Client subfolder instead of from the "Vault Client" root folder where vault.exe resides. My only guess is that it is rading a vaule from the registry that references that sub-folder for a different file. Is there any way of overriding where the vault.exe file is located?