Thanks Mark,
That got me motivated to look into it a bit more. Turns out that I had that log in a folder on another drive and I recently changed the name of that folder (shortened it). So not only did I have to re-point the log file I have a folder set up as "toolbar" containing quick links to folders that I access all the time. So I had about 15 folders to fix. Seems that the browse dialog has improved now. It will present you with a "fix it" button that repoints to the folder for you.
Thanks again. Working away on a project that involves both PS and XaraX. Nice mix!!
Richard