From http://support.microsoft.com/?kbid=293118 and http://support.microsoft.com/?kbid=306186 I get the impression it should just be a drive letter. But it should certainly be exactly the same as you typed when running the wizard on the 'old' PC.
I googled the error message http://www.google.com/search?&q=fstw+%22%22The+location+that+you+specified+does+not+contain+stored+information.+Please+type+a+valied+folder+path+into+the+edit+box.%22
and found a lot of helpful links, like http://www.bleepingcomputer.com/forums/lofiversion/index.php/t47112.html
From what I read there you should take care that:
a) the drive letter in the new configuration is the same as in the old one
b) you point to the parent folder of the USMT2.UNC file
If it really doesn't work, you've lost your settings. But you might have your data on some other backup?
I transfer all my files to and external HDD using Files and setting transfer
wizard then I formatted my computer ones I got it back and running again i
used the wizard again but now I get this massage.
"The location that you specified does not contain stored information.
Please type a valied folder path into the edit box."
When I explor the HDD I have a folder name USMT2.UNC that has DAT files and
one status file. CAN SOMEONE PLEASE HELP ME!!!! =(