Since the policy applies to a project, there is no need to put the project name in the path. Say if you had a folder structure that looked like:
If you setup the path that's used by the filter to where you mapped it to... say C:\MyProject\FolderA then yes, you would need everyone to map the project to the C:\MyProject folder. However, if you set the exclude to \FolderA the filter still works the
same unless you have a folder structure like:
In the above example, it'd exclude both folders with FolderA in the path. I'm about 60% sure that when I started writing the project I had tried to use the TFS path, but it was causing a significant performance degredation (ex. communicating each time to
the server to get the TFS path for the item that's being checked). That's why I had chosen the local path instead, if you're checking in 200+ files it would take significantly longer (1-2 seconds per item). So instead of it taking around 3 seconds to do all
of the pieces of the checkin process it's now been bumped to 400 seconds (6 minutes).
If nothing else, ensuring the developers mapped the team project to a folder with the same name as the project you could use \MyProject\FolderA in the exclude path and it'd only catch the one path. Where they put it at on their box doesn't matter as long
as the root folder is named the same.