Installing the game from DVD
Using the DVD simply downloads Gw2Setup.exe and runs that. It’s the new launcher that is bugged and doesn’t allow you to choose a directory. Simply let it get to the point where it begins downloading files and move the Guild Wars 2 folder wherever you want.
If you actually want to use the DVD, assuming it’s not empty, you need to merge the Gw2.js* files into Gw2.dat using the command:
copy /b Gw2.js* Gw2.dat