Re:Already Built-in solution for running programs (Score 1)

RunFast already does this. Tie it to a hotkey (I use F2) and a small transparent launcher window pops up. Type in the shortcut term that you created and it launches. I use this many times each day. You can even back up the configuration file to move to another PC or to apply to a wiped machine.

http://www.idiogensoftware.com/runfast/index.htm