I need help to make my Discovery 4.85, Freelancer mod manager and Freelancer explorer work

[Shidentora]

I have changed my OS to MS Windows 7 64-bit SP1.
I have installed my Freelancer yesterday (in the "C:/Freelancer" folder, to avoid being bothered by UAC all the time) and just overwritten it by unpacked Discovery mod. It works all right.
I have also installed the FLMM in the same folder, but it just won't work. The loading screen displays all right, but all I get after that is a dozen+ of error messages saying: "(directory EXE/ Freelancer.ini contains invalid path" and whatnot. After that, the FLMM runs, but it just refuses to activate any mod contained within itself (gundam missile, beam weapon...)
And as for my once trusty Freelancer explorer, upon selecting a mod to open, it gives me the message saying: "Cannot open file: C:/Program Files (x86)/Microsoft Games/Freelancer/EXE/FREELANCER.INI and it turns itself off.
Now, do I reinstall everything (or just the game) in "C:/Program Files (x86)/Microsoft Games/Freelancer" to make it work, avoiding any customization of my installation, or what do I do?