Reorganize Start Menu?

[Soundy]

I've tried a couple different launches/start-menu replacements, but none seem to run properly on my HTC S720 (WM6 Standard). That that I'm all that worried about having a fancy launcher, but I would like to have a slightly less cluttered start menu...

So using the Explore function in ActiveSync, can I just drag folders around in \Windows\Start Menu\, create new ones, drop items into them, etc., like with the regular Windows Start Menu? Are there any limitations to this - subfolders not allowed, etc.?

Don't wanna muck up my phone without confirmation first