Ah, yes, you are on Vista. But you have WoW installed outside of Program Files, which should make everything okay. And you path is correct. Do you have multiple copies of WoW installed? Right-click your launcher shortcut and go to Properties and see where it is pointing to.
"You'd be surprised how many people violate this simple principle every day of their lives and try to fit square pegs into round holes, ignoring the clear reality that Things Are As They Are." -Benjamin Hoff, The Tao of Pooh