EQ Live AND EQEmu on same machine?

[Luminarius]

Just curious, I stumbled upon this whole emu thing tonight and am so excited as a former EQ player back in the early years. It's like being offered a window back into my youth! Well anyways, I still play on EQ Live from time to time... is it possible to install Titanium under a different directory like EQEmu and have it run from there and not interfere with EQ Live in its original directory? Could I make two different shortcuts to different game directories or does the game at some point always try to access C:\Program Files\Sony\Everquest\ ?

Thanks in advance for your help. I'd love to have the option of having both versions available, but knowing me I'd be spending more time on the old school Emu servers.