Here's our Windows XP Tip for.. March 19, 2003
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Removing the Text Labels from Toolbars
If you spend a lot of time navigating through the files on your computer, you're probably pretty familiar with the Toolbar buttons in Windows Explorer. If you want to save yourself some window space, you can eliminate the text labels from the Explorer Toolbar and work with the icons alone.

Just open a folder, go to View--Toolbars, and deselect Text Labels. Your Toolbar and Toolbar buttons will shrink a bit, leaving only the icons behind.