Can't chdir to directory on mapped share, no such directory?

[Kenneth Porter]

I'm using cwRsync which incorporates rsync-2.6.7 with Cygwin. I've got it 
set up as a server and it works for local directories but when I try to set 
up a module with path /cygdrive/m/dirname it tells me that it can't chdir 
to that path, error 2, no such file or directory. I copied Cygwin mount and 
ls to the machine and mount reports that /cygdrive/m is indeed there, and 
ls can successfully list the directory. I copied bash to the machine and 
can cd to that directory and ls it. So what is rsyncd doing different that 
it fails the access?