New to Sony but... (V10.0 Build 179)

On creation of a new project to the default directory:

C:\Users\myname\Documents\Vegas Movie Studio HD Platinum 10.0 Projects\

I enter a neame for my project and recieve the following error?

'Read Only Or Invalad Path. Please correct it' and 'The reason for the error could not be determined'

I have changed the path to other directories and triple checked the permissions (all Good) but still get same error?

OS: Win 7 64bit, 12GB Ram, I7-920CPU, HEAPS of HDD space?

ps I can open a default project and save in the same path as it asks when I create a NEW project without errors?