Tool to set default file locations like “My Documents”s in Windows

I usually like to have a data-drive, and to have my system drive lean – only OS, programs and data closely connected to programs, that a user don’t need to know about.

Are there any tools that easily let me do this in Windows XP – Windows 7?

In XP the Powertoys could do this to some extent, but its not there in later versions.

I am not good with regedit, but I imagine you could do this with scripts.

Check this out: http://support.microsoft.com/?id=310147

Basically obviously you need to right-click “My Documents”, go to Properties and change it.