Nico Brandjes,
Follow these instructions to find the real location:
In Windows Live Mail, click the dark-blue tab to the left of the Home tab.
Select Options > Mail
In the Options dialog box, click the Advanced tab, then the Maintenance button.
In the Maintenance dialog box, click the Store Folder button.
The location will appear in a dialog box. You can copy and paste the path into the Start menu’s search field
You can also click the Change button and move the folder to another location.
Thank You,
Dell-Jesse L