I recently moved my whole WP instance from a nested directory /test to root. After some fumbles, everything seems to be working except my images are not present. There should be an image in the upper left as part of the background for the banner. And the nice Montezuma icons are missing.
The path in Settings > Media are /home/thecatsq/wp-content/uploads for stored uploads. If I take the /home off it gets worse (loses styles, etc). I was able to install the NextGen gallery which can be seen under Photos > Some of our cats. Those images are intact.
I also checked the DB and all the changes from old to new directory are made, as far as I can tell.
I have other questions but one thing at a time.