Q: Move Start Menu items into sub-folders

I have installed some programs that have added shortcuts (to their .exe files) to the Start menu and folders to the Start >> All Programs list.

In XP. I moved these items into sub-folders, to keep things uncluttered and easy to navigate. e.g.
I moved the sub-folder XXXX
from C:\Documents and Settings\All Users\Start Menu\Programs
into C:\Documents and Settings\All Users\Start Menu\Programs\Graphics

and moved the link to the program .exe
from C:\Documents and Settings\All Users\Start Menu\Programs
into C:\Documents and Settings\All Users\Start Menu\Programs\Graphics\XXXX

Can I do the equivalent moves in Windows 7?
Are there any pit-falls to watch out for?

So I can do it without problems? And, I would think that any additions under my own user account name would be in a different folder but could be moved to a sub-folder.

[I realise that any uninstalls would not succeed completely as the shortcuts owuld have been moved.]

Just an update that might help others:

I created 2 new Start Menu folders:
C:\ProgramData\Microsoft\Windows\Start Menu\Programs\Audio
C:\Users\DarkStar\AppData\Roaming\Microsoft\Windows\Start Menu\Programs\Audio
-- one for "everyone", one for me.

I moved the shortcuts folders that the Installers had created
from C:\ProgramData\Microsoft\Windows\Start Menu\Programs
to C:\ProgramData\Microsoft\Windows\Start Menu\Programs\Audio

And those created
in C:\Users\DarkStar\AppData\Roaming\Microsoft\Windows\Start Menu\Programs
to C:\Users\DarkStar\AppData\Roaming\Microsoft\Windows\Start Menu\Programs\Audio

At the "All Programs" level, there were also a couple of shortcuts to .exe files. I move those into the sub-folders too.

Now things look a lot tidier and easier / more logical to navigate.

HTH