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I prefer i.e. when i click on my hard disk to see the "pie" showing me visually how much space I have left on my hdd in the left pane, rather than some digits at the bottom of the window
It's not hard to right-click on the HDD and choose Properties to get a nice pie graph.
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I prefer to have quick launch than to make multiple-clicks on start button / programs /
That's fine. But I don't want multiple icons taking space where my task buttons should be.
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BTW: FYI you can expand vertically task bar to show i.e. 2 lines - top with quick launch (where *I* have up to 20-30 quick launch buttons sometimes) and bottom fully unocupied by anything, exactly same as as your "unupdated shell"...
Wasted vertical estate.
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Just TRY IT and CUSTOMIZE IT the way you like it, then - if you really won't like it - don't use it and tell us some REAL reasons why you don't like it, not some B.S. like the one about "quick launch taking your space on taskbar" (since it doesn't if you set it like I did, or if you just turn it off).
As I think I said before, I did try it back when I had Win98 FE. It's the same shell. I didn't like it at all. I won't try it on this PC because it comes with IE.
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Do you really prefer to have NO choice, even though if the 'other choice' is not your favorite one?
Choice is good, as long as it doesn't come forced with other s*** that I don't want (IE).
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Lastly, have a look at linux shells. All of them (except for very old "lite" ones) DO look and feel like the IE4- shell update and more
The world moves on, and so does the look of desktops.
Does that make it right? No. It just means that a lot of geeks have based their shells on Windows/IE's poor design. Many of these geeks aren't usability experts or even designers, they're programmers.
Less is more, even on the desktop. Too many menus and buttons confuse users and clutters things.
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like you probably, am I right? was your first PC some 486 or older?
An AT 286 with DOS and Tandy DeskMate that my dad bought. I soon knew it better than him.

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feels like some ancient Windows 3.11 or something like that
You take that back. There's no comparison. The Windows 3.x shell didn't make sense. No task bar, Program Manager, and... Not much else, really.
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I'm sure youre not against i.e. 256-color systray icons explorer hacking...
No, I'm not. Got a link?
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Nevertheless IE is already present on NT4 and 95 by default, so IMHO one might as well update it too to a newer version even if not using it.
Hah! If you don't use something, you remove it! It's only logical. Besides, updating IE3 to IE4 will tie IE into your system, rendering it more vulnerable and unstable. That's when you should update IE for increased stability and holes. But why bother? Just remove it.
Note that the retail versions of Windows 95 didn't come with IE. Only the OEM versions did.