FastRun by Consiliumsoft

Here´s what the creator says about it on the product´s webpage...

Consiliumsoft´s FastRun is more than a new toolbar that allows you to run applications. Most application launchers will add a toolbar or toolbox somewhere on your desktop, actually cluttering your environment. Fast Run will actually integrate itself into the taskbar and make itself a PART of the task bar.

Feature Set:

Easily adds to the list. Right mouse click on any file and select Add to Fast Run!
Integrates right into the taskbar, no real-estate is lost.
Remembers the last application you ran.
Automatically associates the default icon with application in the view.
Allows you to add a command line parameters.
Size it using the gripper bars.

New Features!

Drag and Drop any file to the FastRun window to automatically add the file.
Configurable RUN button. If you don´t like clicking on the RUN button to run an application, you may configure FastRun to run an application upon selection instead.

The program is shareware and only costs $4.95 to register.