iTunes not saving Preferences

I've had this set-up correctly before & all was fine, but I've had to reinstall & now iTunes will NOT save the preferences I set. I am using iTunes 10 on 7 Pro 64Bit SP1. Below is a pic of how I had it set-up before & I was able to delete the iTunes folder that was automatically placed is My Music folder of the C: w/o any problems. But now, even though I've set it up just as before,...