There does not need to be a "Content" folder. The "Content" folder in DAZ's zips is to separate the actual content from informational files for DIM. DIM strips out the "Content" folder when installing. A library can be named just about anything (within the rules of the OS) and be just about anywhere (again within the rules of the OS). So if you want your library called "My 3D Crud" and located on say drive Z: the path would be Z:/My 3D Crud and this is the path that would be entered in Studio's Content Directory Manager under Both DAZ Studio Formats and Poser Formats