I'm dual booting my sytem (32 and 64bit Vista Ultimate) and I changed my Favorites (as well as documents, desktop, program files folder, etc.) to a third drive (second if you don't count the two partitions on the boot drive for both versions of Windows) to save space and to have the same files etc. avaiable in either version. Everything works fine, programs, etc... Only problem is that I can no longer add a website to my favorites. My access is denied. I can open the favorites folder in explorer and drag the website link into the direcorty and that works, but I can't add from IE7...
Any ideas?

Have you looked at the security settings for the folder from within BOTH operating systems? Sounds like they might be a litle screwy. Try looking at the Security tab on the folder's Properties and unticking/reticking some of the security options for the folder and then apply the ACLs again...