I tried that but it doesn't work. Only one install of Steam will work properly. I don't understand why but when I started it from my second install it would still load the games from the first install. If I removed the games from the first install, they were not available at all, even though I copied them to the new steamapps folder.
My original thread has been getting some attention and it looks like there may be a fix by using NTFS junctions. I haven't tried it yet but here is are some promising instructions. http://www.overclock.net/ssd/825342-moving-steam-games-onto-your-ssd.html