If you use Office 2007 in Vista, you’ll notice that the Places bar has been replaced by a mini version of Windows Explorer. At first, this might be upsetting. But, I’ve found it to be more flexible than Windows XP’s Places bar. First, you can add your own shortcuts by dragging. Second, shortcuts you add are accessible throughout Windows Explorer, not just in Office.
You can add your own shortcuts/links to the Favorite Links area. Navigate so that the target folder is shown at the right. Shown here, I’m dragging Startup into the Favorite links area. Though I’m doing this from Word, the newly created link will show up in all Office dialogs, as well as in Windows Explorer and all other applications that use Vista’s approach to file dialogs (not many at present, but the number is growing).
If all you see on the left is the Folders area, click on the Folders title bar to divide the area into Favorite Links and Folders. You can also hover your mouse at the top edge of the Folders bar and drag up or down to change the relative allocations of vertical real estate for the Favorite Links and Folders areas.