D,
CFS2 is a stand alone prog ie. you can install it anywhere, copy it and put that copy anywhere and it will work. Just install it to the default location, copy the whole of that install and put it where you want. Then either uninstall the initial install, or leave it for use.
As this is a vanilla install I would recomend making several copies of the whole CFS2, for different versions (theatres/locations etc), all will work (I've got 9 installs including a couple vanilllas, European, Dambusters, Mossie Sqn, Marine, a couple of test versions etc etc. The only mod you will have to make if you use a different non-default location is the Mission Editor, if you want to use it.
Cheers
Shessi