as pointed out by Nimajneb in the [Fixed] gPodder 3.3.0 asking to install Python thread here gPodderPortable_3.3.0_Rev_2 changed the download location from
gPodderPortable\Data\config\Downloads
to
gPodderPortable\Data\downloads
I installed gPodderPortable_3.3.0 a few days ago (XP SP3 Home), downloaded a few podcasts, upgraded to gPodderPortable_3.3.0_Rev_2 and the couldn't see the podcasts in gPodder Portable.
They are still on the drive in the old download location, just not showing up in gPodder Portable.