|First, I'd create two more accounts: Another Administrator account, and a user account. Determine where you want to store your data (as opposed to within the profiles themselves), a second partition or second drive is ideal.|
Then, initially, login with one of the accounts (doesn't matter which one.) Right-click the Outlook icon, Properties, Email accounts, View or change, Next, Deliver Mail to the following location, click on "New Outlook Data File, browse to the location you want to store it, and name it whatever you wish, OK, OK, then click on the drop down arrow beside to change the Mail Delivery location and select the newly added file. Finish, Close.
When you open Outlook, mail will be delivered to the new pst file. For the other accounts, since the new account has already been created, go into e-mail accounts, and just change the Delivery location.
That's all there is to it.
If you wish, you can then run the Inbox Repair tool on your original pst file. If that is successful, I'd move that file from the default location to the new location as well.
Life's more painless for the brainless.