How to move iTunes Backup folder to another location
I will flesh this out later, but here is the important line for my system.
mklink /J “C:\Users\media\AppData\Roaming\Apple Computer\MobileSync\Backup” “D:\iOS\Backup”
Info taken from http://www.hanselman.com/blog/HowToChangeTheLocationOfYourIPhoneBackupAndITunesMobileSyncBackupFolder.aspx
