Problems with virtual directory?

so, i had the player set up fine, complete with PHP-streaming and metadata-injected flvs... until i noticed a large chunk of my server's capacity quickly diminishing. so, i installed onto my server (iis 7) another storage drive, and mapped a virtual directory to the exact location of the folder i was replacing. and here's the problem -- when the player attempts to load the video, the progress bar just loops endlessly. it seems to find the video (i've checked the code again and again per its location), but it doesn't seem to like the use of that virtual directory.

i'm assuming this could be an issue with PHP. i've scoured the forums for a solution but cannot seem to find anything. any help / hints / ideas?

thanks.