path specified for outlook.pst is not valid

[drtom]

I have just transfered a .pst file from one machine to a new one and then used the MS Office 2003 save my settings wizard to transfer my e-mail account settings. Everything seems correct on the new machine. The files are the same as on the old one but when I hit send/receive I get an error message "the path specified for the file c:\documents and settings\username\local settings\application data\microsoft\outlook\outlook.pst is not valid"
Clicking OK does not present any options / resolutions.
Has anyone out there got one?
Thanks,

 

[drtom]

Follow up:
When I attempt to create a new message another error comes up "Cannot create the message because a data file to send and receive messages could not be found.

 

[Snug]

What version of Outlook do you have?

 

[drtom]

Sorry, 2003