SharkLinks (
http://www.ludustech.com/sharklinks/) may still be freeware, I have no experience with it. There is also ZLinks (
www.zztechs.com) that does an excellent job with links. There is also Teal Alias and TealPoint has excellent support.
There are bunches and bunches of third party launchers that provide linking capability. Ones to look at: Initiate, LauncherX, and of course ZLauncher. Each of them is well supported and the first two under constant development; ZLauncher is basically a mature application that does more than most any other launcher.
There are also "Windows" like launchers such as Launch-Anywhere (I use ZLauncher and Launch-Anywhere), Hi-Launcher (
http://www.hilauncher.com/) and WinLauncher (
http://www.aylin.biz/product/8/). Doing a search on Hi-Launcher and WinLauncher will produce a bit of information about them. All three are configurable to a degree, one not so and the other two to an extreme. One gives you a basic setup at the start that just plain works, and the other two let you change things until a confused mind takes over. Master Kreth uses Hi-Launcher and maybe he will chime in.
Ben