Known issues:
When opening the settings window, it will not read the current settings and will overwrite them when you save or launch with the new settings.

Version 1.1.0.1
Minor change to msxml.dll reference for better compatibility with systems that aren't up to date.

Version 1.1.0 Several changes in this version.
Added a parameter to the autorun so you can open the settings screen just by double clicking on it.
Changed the ini file to autolauncher4u3.ini
PortableApps Menu will be launched from {usbdrive}\PortableApps\PortableAppsMenu
PStart will be launched from {usbdrive}\Programs\Pstart                     (if they exists)
The custom menu settings still work the same.
Changed the ini file to an xml format.
Re-wrote the drive search routine, I think it works a little better now.

Version 1.0.0.6 1.0.6 adds the Launch PStart, and Launch PortableApps. If autolauncher finds either on the root of the drive it will launch them.
I am leaving the previous version up as 1.0.6 has a couple of issues with this new functionality.
The settings window will only show if PStart, PortableApps, and the launcher.ini config file do not exist. If any of them exist on the root of the drive it will automatically load with default or preconfigured settings (preconfigured if you already have a launcher.ini for a previous version)
To configure the launcher,...
Delete the launcher.ini if it exists.
Rename PStart.exe and StartPortableApps.exe if they exist.
Run the launcher from the U3 system (cd-rom) drive.
Configure launcher and save settings.
Close Launcher.
Rename PStart.exe and StartPortableApps.exe back.
Rerun the launcher. (It should work the way you want it to from this point on)

Version 1.0.0.5 1.0.5 fixes error 429 if you were getting this error.

(download src)