I use a registered ver 1, but I have no top-level folder imported, so that's why all my folders can be renamed.
We've learned something. Let's keep this thread updated with whatever else we find. Thanks for getting back.
btw.... I think Lightroom has a VERY bright future. The team nailed it! For a version 1.0 can't really compain about anything. While there's always room for refinement, don't want to give it feature-itus.