The best way -for me, that is:
Move everything from Docs &Settings//Start Menu/Programs to Docs &Settings/ All Users/Start Menu/Programs. You'll be warned that some folders (Accessories & Startup) cannot be moved: That's OK.
I then move all shortcuts under Docs &Settings//Start Menu to Docs &Settings/ All Users/Start Menu/Programs.
In Docs &Settings/ All Users/Start Menu/Programs I create a folder "Installed Software" Into which I move all Installed Software folders & Shortcuts I find under \Programs
I usually leave Windows installed folders (Accessories, Admin Tools, etc..) as they are.
In Docs &Settings/ All Users/Start Menu/Programs I create several folders: Internet, Entertainment, Hardware, Maintenance, Multimedia, Office Applications, Utilities, etc... (Add more categories to the list, you'll never fill out a screen!).
After that, I go through the list in Installed Software and *COPY* all application shortcuts to the appropriate folder and the most used ones are also *COPIED* to Programs.
Every time I install a new app, I move it's folder to Installed Software and *COPY* the shortcut(s) to the appropriate category folder.
Please note that some (misbehaved) apps keep recreating their folder.