I would like to change the "No Image Available" im
 

I can't really find where this image is located, and if it is located in the database what is the best way to do this?

Hi,
The default image is located in your root xcart directory
So if your x cart directory is http://www.yoursite.com/xcart,
the image is right in your first folder, in this case /xcart.

To change the image , rename the default_image.gif to default_image_old.gif and upload your new image named default_image.gif.Check if it is working and delete the default_image_old.gif.