A number of folders in the profile can be move using the location tab under properties.
The question I have is where is the data for this location stored - I assume it is in the registry.
Yes these locations are stored in the registry. But many are placed behind "GUID" titles that are not human readable so I will suggest you might be best to just use the dialogs to change them. Edit with extreme care... Pointing these to a non-existent folder will result in system errors.
They are at :
HKEY_CURRENT_USER\Software\Windows\CurrentVersion\Explorer\Shell Folders