Yes, as with Poser you can place the content in any folders - the default is either DAZ 3DStudioMy Library in your Documents folder or, with the advent of the install manager and for much the same reason as Poser defaults to the Public Documents folder, My DAZ 3d Library in the Public Documents folder. There's no reason not to use the same folder for both Poser and DS - it saves duplicating the files and makes sure that both applications can find what they need. To add a content directory to DS the simplest path is to open the Content Library pane, then right-click on DAZ Studio Formats or Poser Formats (DS keeps separate lists, though you can add the same folder to each if it has a mixture of file types) and choose the Add Directory command (you want the folder that holds the Runtime folder, just as you do when adding a new location in Poser).