I know this might help some users but obviously not that many:

 I happen to have this configuration on my system that defaulted my operating system drive as drive I:.  It has not been an issue in the last year as my XP Professional OS automatically recognizes this I: drive as my system drive and everytime I install any new program it installs fine by default there.  The C: drive only appears whenever I install any USB storage device.

Last night as I first installed AMC 3.0, the first time I ran it, it prompted me to run a batch file that raises the 3Gig limit of my memory.  If I remember correctly, you find this particular file inside one of the Avid/Utilities directories.  When I try to run this DOS-shell file it failed because there was no C: Drive.  I tried opening this file using somehing like wordpad so that I could perhaps edit it and target the I: drive but it would not open due to the file type. 

The solution was to install a USB Drive (which is seen by the system as my C: Drive) and copy the boot.ini file from the I: drive and then pasting it in this USB Drive.  I ran that aforementioned 3Gig file and it patched the USB drive's boot.ini file.  I then copied and pasted this patched file replacing the one back on the I: (system drive) file.  I rebooted the system and AMC now works seamlessly.

This workaround may sound contrived but if any other user has this problem/configuration, the solution should not take you very long.

I hope this helps.

Interesting.  Thanks!

I thought you could just manually modify the boot.ini file by right clicking on My Computer and choosing Properties.   Then go to  Advanced tab.  Then under  "Start Up and Recovery" click on  "Settings."  You will then see a manual "Edit" button which will open up the boot.ini file in Word.

 It was a matter of editing the 3gig file from Avid to point to and patch the boot.ini file.

 Luxgap, thanks for posting this fix.  It is so obvious I have to wonder why I didn't think of it!  I was going crazy with this!!!