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The base vhd, in programfiles cannot be moved or renamed, if done, xp mode will stop booting.
To move the files under c, first boot xp mode, instead of saving the virtual machine., shut it down. (change the close settings to prompt the user for close action). Close the virtual machine., and choose shutdown. This will remove the vsv file. Do not delete
the .vsv file, as it contains data if you have not saved inside the virtual machine.
Now, move the 'C:\Users\CHRIS.domainname\AppData\Local\Microsoft\Windows Virtual PC\Virtual Machines\Windows XP Mode.vhd ' to a desired location.
Open xp mode settings, go to hard disk 1 setting, and repoint the hard disk to the new location of the vhd. You should now be able to boot off the virtual machine.