Please note that Fast Launcher can also be used as a system tray menu utility; as I don't use such functionality I'll make no further mention of it.
According to a prior discussion here at TPFC (viewtopic.php?t=3504), it is portable but not stealth -- IconsCache.dat gets automatically generated at user's %APPDATA%\DVAsoft\FastLauncher location; path portability is achieved by manually editing fl.xml and replacing absolute paths with relative ones.author of http://www.dvasoft.com/fast_launcher/ wrote:Fast Launcher is replacement for Quick Launch and Start Menu! This application has several features which make this program far more powerful, useful and convenient than Quick Launch. Here its major features: Easy to use, Grouping, Drag & Drop, Quick access, Hot-key-run, Bundles, Tray support, Mouse-keeping, Screen-snapping, Semi-opacity.
The easiest way to make it portable is to install, run once, close, copy the program installation folder somewhere, run «start "" "%APPDATA%\DVAsoft\FastLauncher"» (without the angle quotes), copy every file there to the saved folder, and uninstall everything else. The fl.ini should be edited to look like:
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[Paths]
ProgDir=[Drive:]\Path\to\Fast\Launcher
LangFile=[Can be left blank]
Fast Launcher accepts new entries by dragging and dropping and can be set to auto close when you launch an application. And you mustn't fret Fast Launcher will always look as unsightly as in the official screenshots -- here's a pic from my own setup (notice the question mark icon for a broken entry):
EDIT:
The above files can be placed in Fast Launcher program folder, provided the corresponding path is entered into fl.ini as detailed above.author of http://www.dvasoft.com/fast_launcher/faq/ wrote:Q: What files should I copy if I want to use the same settings/shortcuts on a different PC?
A: You can save two files and restore them on new machine in order to move your settings: fl.ini and fl.xml. You can find them into your profile folder:
[...]
Win XP: C:\Documents and Settings\<USERNAME>\Application Data\DvaSoft\FastLauncher\
Also, although there's no mention of this anywhere in the site or the help file, fl.xml seems to accept the following internal path variables:
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%PROG% = Fast Launcher Folder
%PF% = Program Files Folder
%WIN% = Windows Folder
%SYS% = System32 Folder