The software always uses the same location to store prefs (and yes, the path remains the same from version 2 to facilitate upgrading). If you've upgraded your current version 3.0 or 3.1 or 3.1.1 to version 3.2.b1, then this should be what you want. But, if you've installed 3.2.b1 in a separate folder and plan to use them both (testing 3.2.b1, and falling back on 3.x when necessary), then you probably want to use the backup feature to save things ... just in case, and restore them when you return to 3.x if necessary. Of course, you could also just make a copy of the prefs.sav file and save it somewhere else.
I actually do have this on the to-do list, and will be trying to get it in for 3.2.
I made a backup of my datastorage (dropbox folder) and then installed the beta in a separate folder on my harddrive and pointed the path for datastorage on a new copy of the old datastorage folder.
i forgot to backup the prefs file, but now when i have had a look at it i see that it only contain TD specific information, and no computer specific information, so i think i remember most of my settings so i will be able to reset them.
The ability to set the path for the prefs file and the 2-3 other files in that folder, (i do have a folder structure in there to, but i guess its not in use when i have my datastorage in my dropbox) would make my day.
I don't know how many times i have been tweaking TD at the home computer , just to realize that i forgot what i did, and the prefs file in my laptop isn't updated. (mainly statusupdate settings witch worked fine at home, but not at the tournament.)
If you are able to get it in there, that sounds great..