MD Settings: Downloads directory should be relative to Downloads directory.

chrome/browser/resources/settings/downloads_page/downloads_page.js

 // Copyright 2015 The Chromium Authors. All rights reserved.
 // Use of this source code is governed by a BSD-style license that can be
 // found in the LICENSE file.
 
 /**
  * @fileoverview
  * 'settings-downloads-page' is the settings page containing downloads
  * settings.
  *
  * Example:
@@ skipping 20 matching lines @@
      * Dictionary defining page visibility.
      * @type {!DownloadsPageVisibility}
      */
     pageVisibility: Object,
   },
 
   /** @private */
   selectDownloadLocation_: function() {
     chrome.send('selectDownloadLocation');
   },
+
+  /**
+   * @param {string} path
+   * @return {string} The download location string that is suitable to display
+   *     in the UI.
+   * @private
+   */
+  getDownloadLocation_: function(path) {
+    // Replace /special/drive-<hash>/root with "Google Drive" for remote files,
+    // /home/chronos/user/Downloads or /home/chronos/u-<hash>/Downloads with
+    // "Downloads" for local paths, and '/' with ' \u203a ' (angled quote sign)
+    // everywhere. It is used only for display purpose.
+    path = path.replace(/^\/special\/drive[^\/]*\/root/, 'Google Drive');
+    path = path.replace(/^\/home\/chronos\/(user|u-[^\/]*)\//, '');
+    path = path.replace(/\//g, ' \u203a ');
+    return path;
+  },
 });