I have the same problem...
my base_path in the tv is:
and images are correctly displayed.
But when I create a new folder inside it's created in the root...
"Manually" you can bypass this problem setting the correct path in the field "Parent directory" when you create a subfolder,
of course, my customer is not so happy
[ed. note: tillilab last edited this post 12 years, 6 months ago.]