here is a very simple registry trick to remove the arrow from the shortcuts in windows vista.
the steps are...
1. Type “regedit.exe” in the search box without double quotes. and then,
2. Browse to key HKEY_CLASSES_ROOT
3. Open the Key LNKFILE
4. Rename the value assigned with this key “IsShortcut” something other than.
5. Log out and back in again.
6. You will notice the change.
Revert the procedure to get the arrow again on the shortcuts
