If you are a neat freak (or even if you are not) the chaos of the Programs folder after a few months of installing applications may become a bit grating. Ycimper from XDA-Developers felt the same way, and created a cab which will automatically create 4 sub-folders, Application, Connections, Multi-media and System Tools, under the Programs folder for you to move your various applications.
Of course this is nothing which any of us could not do by ourselves by navigating to \windows\start menu\programs with File Explorer and creating a new folder,but what this application uniquely does is add attractive graphical elements to the folder icons.
Remember to populate these folders you will still need to go to \windows\start menu\programs with File Explorer and cut and paste the shortcuts to your applications to the appropriate folders.
The cab works for both VGA and QVGA devices. Download the cab from this XDA-Developers thread here.