Excellent tutorial! I've been doing this for years.
The only downside is, on a computer with multiple users, you're obviously removing shortcuts for everyone else. In that case I would do the opposite - transferring from the user's programs to All User's programs. That has a downside too, being that some programs are only installed on the single username.
Nevertheless, nice tutorial!
I'm not a fan of launcher programs as they seem to eat up what little resources I have, but I know that a lot of people are fans of it. This video was made for Lifehacker's Screencast Shortcut Contest.
