Maybe I missed this enhancement when it first appeared, but I just discovered that Windows Vista has a neat little feature that ‘automagically’ heals broken shortcuts. So, if you create a shortcut to a file or program in Windows Vista, then subsequently move that file or program link, the shortcut will be automatically updated to the new location. And your shortcuts should always work! Ingenious!
BTW, you can also remove those ugly arrows from shortcuts in lots of different ways. The Shortcut Overlay Remover from the FrameworkX community, also known as FxVisor, can do this for you without your having to dive deep into the registry. To install, head to www.frameworkx.com, click on Downloads, then look for Vista Shortcut Manager in the Windows Toolbox. If you’re running a 32-bit version of Windows Vista (and most people are) you need the x86 download. If you’re on 64-bit version you need the x64 version.