Thanks very much for the discussion about removing unwanted folder-views from Windows 7 explorer.exe via reg edits. I've cleaned up my Nav pane quite a bit and am much happier.
There is one remaining entry I would like to know if it's possible to get rid of: I am currently logged into Windows 7 as Administrator. At the top of the Navigation pane (I.e. the first entry), immediately under Desktop, is "Administrator." I assume it's the profile directory showing me which login is active. Is there any way to hide that entry?