I use the Recent Documents list on my Start menu quite a lot. I often work on a number of documents types at once, all from the same folder (organized by project, for example). I open one document that way, but then if I want some other document from that folder, it gets tiring going to Recent Documents all the time. As a result I tend to use Start, Run, and start to type the name of the folder -- since things I typed recently are remembered, it doesn't take many keystrokes:
But now on Vista I have something even easier to deal with. There's an extra choice on the context menu for the Recent documents list:
That's a timesaver for sure!