DefaultFolder Behavior

[MacGuy]

I was having a devil of a time manipulating the DefaultFolder in Rev 2 
(b1 or b2), until i poked around some.  There seem to be some 
undocumented changes (I think), and I assume this is to be the new 
behavior, but I figure I should check to be sure.

Best i can tell, with one exception the full path to a folder now 
begins with the word "volumes".  So the path to my Applications folder 
on my second drive named "Drive2" is:

/volumes/drive2/applications

the exception seems to be the boot drive, at least under Mac OS X.2.3, 
here the boot drive is called simply "/", so that the _full path_ to my 
Applications folder on Drive1 (the boot drive) is:

/applications

Is this correct?  Is this how things will work cross-platform?  Or is 
my machine wonked.  Thanks!