Hi Dennis. 

I'm away from my PC for the night so all I have is my iPhone here to type on so I have to keep this short. 

Yes you dump everything into a folder and just let LSCP Gen manage the lot.  The folder name can be anything you want. You don't have to call it SoundbankGM2 at all.  Whatever name you give the folder just make sure you use the same name in LSCP Gen for the folder name drop down menu (first itme on the left) and doing that will let the mediastation l ow where to find the gigafiles. 

I will pu together some videos on this tomorrow too. 

Cheers 
James