I realize this is a really old thread, but in case anyone else ever wants to know how to do this see the below webpage with the following caveats.
1. Before deleting the reg key, make a backup folder by creating a new folder and dragging all of the icons in the "All Control Panel Items" window into this folder. You can call the new folder "All Control Panel Items". This serves two purposes. i) You have a backup ii) You can pin this folder to the taskbar or drag it anywhere else you may want to move "All Control Panel Items"
2. Make a backup of the specific reg key you will be deleting in case you ever want to bring this feature back onto the desktop. Note: You can use the backup folder above to restore this feature as well, but you'll have shortcuts in your folder as opposed to direct links to the control panel items. All this amounts to is a slight visual difference (i.e. arrows on the icons vs. no arrows).
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