Not sure why you can't. But I can add a new library to a storage drive. I didn't have the drive connected when I installed 7. After install I formatted in comp. management though. Not sure if that makes a difference. But the option for me is under the address bar to the right of organize...
Not sure what the problem is. I slapped the disk in the drive and installed with absolutely no problems. I didn't have to run it in compatibility mode or anything. W7 x64 RC build 7100. @hussanali Yes.