We ended up removing the RSP and adding it back. This took care of the issue of the folder name being correct.
One thing we were seeing was an error when we accessed the properties of a report. For instance, if we went to the report link in IE, selected the drop-down next to the report name, chose "Manage", and clicked on Processing Options, we saw this:
An error occurred within the report server database. This may be due to a connection failure, timeout or low disk condition within the database. (rsReportServerDatabaseError) Get Online Help For more information about this error navigate to the report server on the local server machine, or enable remote errors
This was not corrected when we added the RSP back, so we are still stuck a little. We get this error when we click on "Cache refresh options" and "Processing options". If anyone has any thoughts I would love to hear them!
Thanks!