If it is a System Folder, renaming may be difficult. Might try using the Windows XP Recovery Console
and see if you can get your Folder renamed. Usually the system files/folders are protected by System File Protection and renaming them only gets them replaced or a pop up box that states that it is a system file/folder and can not be rename. Possibly it will state that it is in use by another Windows app.
C:\Documents and Settings\Godfrey\My Documents\My Pictures was named by the individual that installed Win XP as admin and you may not be able to change it that easily. A definite re-install from scratch would do it as it would then give you the option of naming whatever name you wish to use. This may not be an option for you.
You might be able to change system folders (using different ones) using PowerToys (Tweak UI?), but I don't think that you'll be able to change your Windows dir to another one... If you really, really need that tweak, then reinstall windows and choose "Advanced Options" and change the installation folder.
Following given but not going to provide too much more advice on it as M$ O/Ss are finicky and unstable enough as it is.:To change the install directory for Windows:
When you install Windows XP by booting from the Windows installation CD-ROM, Setup does not prompt you for the name of the destination installation folder or allow you to change the name of the destination installation folder.
The default installation folder is the \Windows folder. You cannot change the installation folder during Windows Setup except under the following circumstances:
The Windows or %SystemRoot% folder already exists.
You perform an unattended installation and specify the TargetPath= parameter in the answer file.
You run the Winnt32.exe file from a working copy of Windows XP and change the location in the Advanced Options settings.
Also, here is how you change the names of all the shell folders:
[Start] [Run] [Regedit]
HKEY_CURRENT_USER\Software\Microsoft\Windows\Curre ntVersion\Explorer\UserShell Folders
Modify/Create the Value Name [Various Folder Names] according to the Value Data listed below.
Data Type: REG_SZ [String Value] // Value Name: Consult RegEdit for Folder Names
Value Data: [Move the folder to the new desired location using explorer, then edit the matching folder in RegEdit to reflect the new folder location]
Exit Registry and Reboot
For related info :Change the Location of Special Folders
Again it's best to just reinstall Win XP after backing up the files you want to keep.