The folder structure is always preserved, whichever option you choose for Version storage. In the mode where Versions are stored in a single hidden $SBV$ subfolder of the base folder, the original paths to the files are replicated (created) inside the single $SBV$ folder. In the mode where the Versions are stored in $SBV$ subfolders inside their original location, the paths are of course still applicable (they're stored inside the 'live' path anyway, just one level deeper).
Versions are stored with a date/time-stamp appended to each file. There's no provision to create separate subfolders for each file, differentiated by date/time. The date/time stamp is applied to the file itself.
Versions are stored with a date/time-stamp appended to each file. There's no provision to create separate subfolders for each file, differentiated by date/time. The date/time stamp is applied to the file itself.