The VideoLAN Forums

On my Win98 system, VLC player stores its configuration file and a cache file in c:\windows\application data\vlc\vlcrc. SeeVideoLAN FAQ 1.3.

For various reasons, this is a bad location for me. Is there any way I can change this location?

You could try changing %APPDATA% to point to another folder. Or you could also modify VLC source code and compile new version with modified path.