I ran into the situation the other day where we had to move the Exchange database and logs files to a different location on the server). The actual Exchange and SBS wizards would fail on the moving of the files due to corruption we were experiencing.
From what I could tell I could create a new database file or move an existing database file only. We needed to actually point Exchange at a different database file and logs completely. These files were also on a different drive letter. I could not find a way to accomplish this. Is there a way?
BTW, we got around it in a very round about manner by creating a new partition, having the desired exchange files on it, and swapping the drive letters with the running Exchange partition.
Specifically this was SBS 2008.