Well I'm a bit fed up with waiting on microsoft to release the .NET framework beta 2, so I've decided to convert the project to c++. This should be significantly faster and less hassle to run. Expect a functional release within a week or two.
Try right clicking on launchy! There is now a quit option (about time I know), and there is now an options menu where you can tell launchy to catalog your choice of directories with whatever filetypes you want, for instance you can add 'c:\music' and tell it to index '.mp3,.aac,.ra'
More to come soon :)
Since the cvs version is a stable copy of what I released half of a year ago, I see no need to delay a full release of Launchy. This is 0.5 as not all features are available but it is most assuredly usable.
I have imported the first beta of Launchy. Sourceforge must be thanked for their wonderful project utilities.