Noel, thank you for responding!

So just to be clear. If I "freeze" tracks in wma version, switch to audiophile (hard drive) folders and export, result would be audiophile Wavs?

For some reason I thought what "freezing" does, is actually saves whole track as audio file somewhere... and when it comes to rendering...it just renders that file, not going to original (or newly pointed) source folders.

Misha.