For the longest time I have been running both SlickRun and Launchy on my machine. I kept both as I had not updated my copy of Launchy in a while and I found that slickrun was just much better for launching folders in Explorer. Having had my eyes opened at the last course in Austin, I have now completely removed SlickRun and am completely running using Launchy.
The old launchy interface required me to hit tab before I wanted to initiate folder navigation, which is why I still kept slickrun kicking around. I am happy to say that is not the case anymore.