I'd rather like to see the "profiles" to change $mircdir to the profile's directory, and $mIRCexe to be to mIRC's install directory. This would make it a lot easier for scripts to change, as they would not be affected if they use $scriptdir and $mIRCdir.
I think it would be better for scripters to stop using $mircdir when they are not refering to one of mircs own files or specifically saving/reading settings from a file they want to remain in the mirc root dir.
A $profiledir would seem more appropriate than altering the behavior of $mircdir.