Since I don't use Internet Explorer for browsing, I can easily add my favourite folders to IE Favourites. With "Show Favourites" on my start menu it makes it easy to open the folder I want in Windows Explorer.
Even if you do use IE for browsing, you can still put folders on your local drive in favourites. You only need to organize favourites so that web pages are all in folders, and local folders are in the root.
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