Call of Duty 5: Starting Mods
Since Patch 1.1 release 11/11/2008 the fs_game is set to default to fs_localAppData.
By Default also, fs_localAppData is set to
"C:\Documents and Settings\Username\Local Settings\Application Data\Activision\CoDWaW"
The idea is to change fs_localAppData and then use fs_game as normal:
In your Command Line add this:
+set fs_localAppData "F:\Call of duty 5 server" +set fs_game mods/whatever