The Revit.ini file has a path setting for "LookupTableLocation," but this setting has no apparent effect on where Revit looks for Lookup Tables. We want all users to use the same lookup tables stored on our network, but the "LookupTableLocation" does not affect where the buttons in the Manage Lookup Tables dialog take you. Instead, the buttons will take you to the last location you browsed to, be it where your .rvt files are kept, where your .IES files are kept, or whererever.
This has an adverse affect when trying to create or make certain modification to pipe fitting, pipe accessory, and conduit fitting families, and can make it difficult for users to upgrade legacy content.