In my version of WordPress (2.9.2), the wp-admin -> Settings -> General screen refers to "WordPress address (URL)" and "Blog address (URL)" while the text at http://codex.wordpress.org/Changing_The_Site_URL says:
On the Settings->General screen in a single site installation of WordPress, there are two fields named "WordPress address (URL)" and "Site address (URL)". These are also known as the "Home" and "Site URL" settings. They are important settings, since they controls where WordPress thinks your site is located. They control the display of the URL in the admin section of your page as well as the front end, and are used throughout the WordPress code.
In the wp-admin -> Settings -> General screen, if you have, e.g., the following:
WordPress address (URL) http://faustino.local/wordpress
Blog address (URL) http://faustino.local/roadsigns292
Enter the address here if you want your blog homepage to be different from the directory you installed WordPress.
then after doing this, phpMyAdmin says that in table wp_options
siteurl contains http://faustino.local/wordpress home contains http://faustino.local/roadsigns292
Viewing the blog at http://faustino.local/roadsigns292 and administering it at http://faustino.local/wordpress works as expected, but surely the names of the database fields are the wrong way round in relation to what the codex says?