I tried version 2.3.3 with a documrnt containing a graphicspath like this:
Hello
\graphicspath{{./figures/}}
and this command
\includegraphics[width=\textwidth]{distributions/clarinet/crs_100.pdf}
while correctly,compiling in pdflatex ended with a error mentining figure not found in in latex2rtf. Looking into the source code I was able to find the problem in graphics.c
where line 2007 reads
newpath = strdup_together(dir,graphicsPath[i]);
which should however be
newpath = strdup_together(graphicsPath[i], dir);
Changing the order did correct the problem in latex2rtf.
Thanks for being open source
Best
Axel
patch accepted and included as revision 1222