Thanks to the folks who responded.  I appreciate your time.

The problem has been isolated to LISTSERV parsing (presumably) "C:\Program
Files\..." as "C:\Program" at some critical point.  It is dumping the
archive file in "C:\Program" -- a directory it created in response to (I
believe) my creation of a list that had the archive bit checked and a path
that was apparently truncated at the space between "Program" and "Files".

Any help?  How do I get LISTSERV to point to the C:\Program
Files\LISTSERV\Archives directory instead of "C:\Program"?  I went into the
site configuration utility and tried putting double quotes around the path,
but the utility considered that a new path altogether (when in fact the
directory does exist).  For that matter, I'm not sure that's where the
issue really lies.  I'm thinking of playing with the list header now under
Notebook= but I'd rather get a tip or three from expert admins first.  I
have a feeling it has to do with the string I'm giving the web interface
when I create lists, which subsequently ends up in the configuration
header.  Clearly, I don't want LISTSERV to dump all the archives/notebooks
for all lists into C:\Program.

Thanks,

-ronnen