I "upgraded" to IE8 as part of installing recommended updates and discovered that it does not
support Personalized Favorites. As my favorites menu is rather large and complex this pushed me to
revert to IE7 which I did on June 20, 2009, and made sure the Enable personalized favorites menu
option was checked. Unfortunately, IE did not revert to actually personalizing the favorites menu.

The knowledge base article: http://support.microsoft.com/kb/257128
is titled: Enable Personalized Favorites Menu Feature Does Not Take Effect Immediately
However it states:
"If infrequently-used menu commands or shortcuts are still not demoted after you restart Internet
Explorer, you may need to wait for as much as a week or more for the item to be demoted. "

It is now two weeks and I still do not have a personalized favorites menu.

Any suggestions on how to fix this would be appreciated.