Were are the snapshots going? Each folder (indexing, Journal, etc) needs to be on its own volume which it sounds like you have. Is this storage (the 5TB) is it on the local server or is this a NAS or SAN box? Why I say this is CPS doesn't support NAS or SAN attached storage. I have been down this road it was a train wreak. I was thinking more disks plus more arms = very fast that is not the case when Symantec told me they don't support attached storage with CPS but it does work I have it working right now but both servers are physical machines one is dedicated to backup exec 12 and CPS 12 and the agent resides on a file server.
Try this as a test keep CPS 12 installed on your server but push the agent to a physical machine not attached to any storage device and try that and set up your job and you'll see it works.
