Glenn,
Look at the 18th charachter in the string. It is a 2. I would have thought your Quick Launch toolbar is disabled. But looking at the length of the string, I would say it is enabled.
These are the values under the registry key HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\Streams\Desktop when I disable the Quick Launch Toolbar (and log off and log on again)
 Code:
Windows Registry Editor Version 5.00

[HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\Streams\Desktop]
"TaskbarWinXP"=hex:0c,00,00,00,08,00,00,00,02,00,00,00,00,00,00,00,aa,4f,28,68,\
  48,6a,d0,11,8c,78,00,c0,4f,d9,18,b4,e5,03,00,00,60,0d,00,00,00,00,00,00,1e,\
  00,00,00,00,00,00,00,00,00,00,00,1e,00,00,00,00,00,00,00,01,00,00,00,01,00,\
  00,00,8b,8a,0d,54,3f,1c,32,4e,81,32,53,0f,6a,50,20,90,1d,00,00,00,60,05,00,\
  00,00,00,00,00,1c,00,00,00,00,00,00,00,00,00,00,00,1c,00,00,00,00,00,00,00,\
  01,00,00,00
"Toolbars"=hex:11,00,00,00,00,00,00,00
"Upgrade"=dword:00000001