Windows 7 - the missing Quick Launch toolbar

I recently upgraded to Windows 7 to have a first look and feel of the new OS. One of the first things that I really missed was my Quick Launch taskbar for easy access to a lot of my applications. After some investigations I found how to enable it in two steps.
Enable the taskbar

1. Start -> Run -> Enter "gpedit.msc" and click OK
2. Navigate to the following branch
   User configuration > Administrative Templates > Start Menu and Taskbar
3. Find the setting "Show QuickLaunch on Taskbar" and double click on it
4. Change the setting to "Enabled" and click OK
5. Close the Local Group Policy Editor

Configure the taskbar/quick launch

1. Right click the taskbar > toolbars > New Toolbar...
2. Navigate to %userprofile%\AppData\Roaming\Microsoft\Internet Explorer\
3. Mark the "Quick Launch" folder and choose the Select Folder button

The Quick Launch should now be available on the taskbar and you can rearrange the taskbar. I have made the following changes:

• Removed "Show text"
• Removed "Show Title"
• View > Small Icons

Screenshot with Quick Launch toolbar enabled in Windows 7