After many unsuccessful searches for a registry alternative, I finally got around to modding the toolbar in browselc.dll with Reshacker. I couldn't be happier!
Edit: original image was accidentally deleted.
Click thumbnail for the full image
The hack lost functionality of the "Favorites" menu in Explorer (not a big deal since I don't use Favorites in WinExplorer) and the "Tools" menu (again, no big deal: the Folder Options toolbar button still works).
Clicking the double colon brings a drop-down menu that holds all the toolbar menus.
In IE, the "Bookmarks" and "Tools" menus both work, but I use Firefox so I wouldn't care if they didn't.
I took the mod from WinT's Explorer Mod, and was able to cut out useless menus.
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