WyE5JZhXEX: Do you mean the Destination folder when you run widescreen-v2.60.exe ? Did you install Planescape to the default which is C:\Program Files\GOG.com\Planescape Torment ? If so, browsing to there when you run the widescreen mod installer should work.
However, I understand that Windows Vista and Windows 7 have security clamps on Program Files - I don't know the details as I'm still on Windows XP, but I think it prevents writing there by untrusted programs. If that's the problem, the safest solution might be to uninstall Planescape and create a games folder elsewhere, say C:\Games and install it there. Then install the widescreen mod to C:\Games\GOG.com\Planescape Torment or whatever path you chose.
There are other solutions to the permissions issue, but it depends on your level of knowledge.
Am I on the right track or am I barking up the completely wrong tree?