Should we start a petition to bring this feature back?
allowing the selection of favorite folders
This is possible both in XP and Vista dialogs.
To add a location to the left-hand side of the Open and Save dialog boxes in Vista and XP, use the group policy editor:
Go to Start > Run > gpedit.msc > User Configuration > Administrative Templates > Windows Components > Windows Explorer > Common Open File Dialog
Enable "Items displayed in Places Bar" and type the path to the desired location.
Interestingly, while this works as you describe on my Vista Business 64 desktop, there's no such thing as gpedit.msc on my Vista Home Premium 32 laptop.
Or maybe hp took it out, the b*******.
For some reason it is not in with the administrative tools, so I added it there so I can find it next time.