I'm with you, but then where would the .ini file be (and what if it were located in a path with non-ASCII characters)?
Good point, though I'm not using non-ASCII (8bits) characters - I guess they would be "extended ASCII" (16bits - nothing MS-DOS wasn't already using with codepage 437, 850 or "win-dos" 1250).Quote
The "right" way to do this is of course to store settings in the Windows registry, however the Armory devs have to support multiple OS's, and it's understandable that they don't want to have to maintain different code paths for every OS.
"Right way" is debatable 
but I think the way it's actually implemented is fine. It's just it's not working as it should.Quote
On the plus side, an Armory dev did say that they plan to fix the non-ASCII-path issue over here: https://bitcointalk.org/index.php?topic=984101.msg10727929#msg10727929
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Interesting. There could actually be 2 separate issues. 1/ with Armory itself and the /-slash and 2/ with Bitcoin Core itself not liking non-ASCII (8bits) characters -or it's sth else entirely (luckily workarounds exist)(...)