The configuration for profile persistence is stored in a file within the <web folder>\bin\ folder on the IIS server called WIRE.XMLProfilePersister.dll.config.
This configures where Default and User Profile information is stored on the server.
An example of how this is configured for c:\temp is as follows:
<configuration>
<assemblySettings>
<add key="ProfilePath" value="c:\temp\"/>
</assemblySettings>
</configuration>