This is the log I get after installing:
C:\Users\spencercars\AppData\Local\Google\Picasa2\db3\albumdata_filename.pmp,ytFileUtils=326,err=3,errno=2,oserr=0
C:\Users\spencercars\AppData\Local\Google\Picasa2\db3\facetemplatesV2_index.db,ytFileUtils=326,err=3,errno=2,oserr=0...