Since its only a shortcut, located in C:\Documents and Settings\All Users\Start Menu\Programs
Just like any other shortcut, you can move or even delete it. Better yet is to put those shortcut inside a folder, group them as you like...
Go to C:\Documents and Settings\All Users\Start Menu\Programs
Create several folder, give it a name, move your shortcut under it,
i.e. create a folder with a name 'Games' and put all your games under it.
I have Windows XP Home. When I click start->All Programs, the list is so long that some of the programs are off the bottom of the screen in the last column. How can I consolidate this list so that is is shorter and easier to read?