Need some help with an Issue

So I bought the new expansion set from STEAM yesterday. I activated my keys through my EXISTING FFXI. Meanwhile, over night I let steam download the new FFXI. I go to run my old set this morning and it will not load. Windows ask for the permission to load it, I say agree...and nothing happens. However, I can get the STEAM d/l of FFXI to run. I normally wouldn't have a problem with this but it is trying to do a full update and we all know how long that can take. So I went to look where I could drop the folder from the existing to the new and cannot find the actual file location for the steam one...All I can find is an internet shortcut for the icon. Does STEAM hide the game files from you or something? I could avoid this darn update if I could just find the file location. Any helpers out there?

Got a solution! Thanks if you were about to respond to this!