OK, I discovered that the satoshi-datadir is actually Bitcoin\blocks\blocks for some reason. After setting this, ArmoryDB starts to parse but throws the following error every couple blocks:
-ERROR - 11:27:59.234: (e:\users\goat\code\armory3\cppforswig\noderpc.cpp:114) RPC connection test error: invalid object encapsulation
Is this an error to be concerned about?