Index: modules/system/system.admin.inc
===================================================================
RCS file: /cvs/drupal/drupal/modules/system/system.admin.inc,v
retrieving revision 1.328
diff -u -p -r1.328 system.admin.inc
--- modules/system/system.admin.inc	13 Jan 2011 01:08:28 -0000	1.328
+++ modules/system/system.admin.inc	27 Jan 2011 08:07:08 -0000
@@ -466,7 +466,7 @@ function system_theme_settings($form, &$
     // If $logo_path is a public:// URI, display the path relative to the files
     // directory; stream wrappers are not end-user friendly.
     if (file_uri_scheme($logo_path) == 'public') {
-      $logo_path = file_uri_target($logo_path);
+      $logo_path = variable_get('file_public_path', conf_path() . '/files') . '/' . file_uri_target($logo_path);
     }
     $form['logo']['settings']['logo_path'] = array(
       '#type' => 'textfield',