userprofile setting not working in 2.0b

I moved PortableGaim.ini from the PortableGAIMCode directory into the same directory as the PortableGaim.exe sits as directed in the readme. I set the Userprofile directive in the ini to be "userprofile". I created this directory. But still, when I run the app and make accounts it always stores them in settings/.gaim

ideas?

I would like to be able to run a 2nd instance of gaim using a different account profile entirely (meaning, two different instances with different msn/aim/icq accounts in each)

thanks