"M" is incorrect. Start the Mail applet in Control Panel. Click the E-mail
Accounts button, select "View or change existing e-mail accounts" and click
Next. At the lower left will be a drop-down labeled "Deliver new e-mail to
the following location". Change that drop-down to point to your new PST.
Click Finish. Click the Data Files button, select the broken PST and click
Remove. Click Close, then Close again. Outlook should now be able to start
with your new data file as the delivery location. You can then repair the old
PST as explained in the link I posted previously, which should allow you to
recover most of its contents.