I have two problems with my portable installation.
Sublime detects the data folder properly, but:
1) My user options are never saved or applied automatically. I looks like Sublime is overwriting them with the default options.
2) Whenever I save a plugin, the changes are saved, but it won't work until I restart sublime.
This is how I start Sublime:
SET SU_EXE=%~dp0apps\Sublime Text\sublimetext.exe
doskey su="%SU_EXE%" --data %SU_DATA% $*