I've had similar problems, Cervantes. Please tell me, what do you mean by hidden under too many layers of folders?
the updater should be located inside a folder that is inside your nwn directory. using the compressed package we provided, extract the folder and its contents directly into your nwn folder (folder where nwmain.exe is located). the updater looks for nwmain.exe when it runs and if it does not find it in the directory above the q_update.bat, the process will fail.
the location should be similar to:
C:\NeverwinterNights\NWN\Q_updater