You can do that pretty easily.

Start by checking the return value of your checkpoints. Look at this posting to see how to do that: http://eyeontesting.com/questions/3058/qtp-checkpoints.html

Next, you need to add this code to set the folder location:

Set qtResultsOpt = CreateObject(''QuickTest.RunResultsOptions'') ' Create the Run Results Options Object
If blPassed Then
qtResultsOpt.ResultsLocation = ''C:MyTempLocationPassed'' ' Set the result location for passed tests
Else
qtResultsOpt.ResultsLocation = ''C:MyTempLocationFailed'' ' Set the result location for Failed tests
End If

After the end of the test, be sure to clear qtResultsOpt:

Set qtResultsOpt = Nothing ' Release the Run Results Options object