Most of the times you will want a new folder for your new project, but
certainly if you want to reuse some existing folder VS.NET is annoying, it
should use an editable control for the full location. I think there is no
other workaround apart from the one that you are using.

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Carlos J. Quintero (Visual Developer - .NET MVP)
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> VS.NET 2K3
>
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> The only workaround I have found is let the IDE have its way, then move
> the vcproj file where I want it.