How to configure the Delphi 6 Library path setting and Path Variable setting to a directory with BPL files

Greetings,

I am new to Delphi 6 and I need to set the Path variable and add a library.  This looks pretty straight forward.  I just need a little confirmation.  

I have a path on a remote drive that contains various BPL files needed for the project.  Am I correct that all I need to do is use the following menu:

Tools\Environment Options

Within this dialog under the Library tab I would add the Library path by browsing to the specified folder.  Then, under the Environment Variables tab I would add the path to the existing Path information, yes?

I think my biggest concern is whether to remove the contents of the existing Path(s) and replace it with what I have OR add my path to what is already defined in the Path variable?

Outside of these, are there any other menu items for the project that would need this information?

Thank you!