HKEY_CURRENT USER\Software\Microsoft\Office\11.0\Outlook\Options

3. Right-click on Options, choose New | String Value, type DefaultPath, and press [Enter].
4. Double-click the DefaultPath icon to open the Edit String dialog box.
5. In the Value Data text box, enter the path to the folder you want to use as your default for saving e-mails and attachments (Figure A).
6. Click OK and then close the Registry Editor.