The installer program will make an attempt to find the forum path. It will look in same root, then ./forum, then ./forums. If it cannot find it then it will ask you to provide the absolute path to the forum library. It will then test to make sure it can parse vbulletin. If it succeeds then it will install joomla and add the forum path to the joomla configuration vars as well as copying the appropriate elements from the vb config to it's own.
So the answer is that in the final version you will be able to put the forum on any path you wish so long as PHP's open_base_dir directive doesn't block joomla from executing forum scripts.
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