My Windows XP SP3 32bit environment has had the "My Documents" folder moved to another drive and path. Adobe bridge [and mini bridge] still go to the original \Documents and Settings\username\My Documents folder when choosing "My Documents from Favorites. It appears that bridge is not checking the location stored in the windows registry. Not a serious problem, but an annoyance
I did some searches in the forums, but did not find any reference to this. Closest I found was for Windows 7, where My Documents does not really exist.
It appears that the favorites are simple short cuts, and do not really look at the 'system'. Fixed by deleting the favorite, and recreating.