There is a field for folder, "Filename (path)" that you can use in your views, but it will not magically separate your albums that are merged against your wishes. Even if you made them appear separate in a view, an action like "expand to album" in a smartlist would still include both albums. This is because, the way you have tagged them, they are the same album. Location is irrelevant. Only the metadata matters.
You have to understand that what you think of as an Album is to MC only a collection of files, that happen to have matching tags (metadata). If the [Album] and [Album Artist] tags match, then they are by definition the same album.
The correct fix is to change your tags. Make the [Album] tag of the second album different somehow. Add the sampling rate, or the year, or "(Remastered)" or whatever is necessary to distinguish it.
I hope this helps...
