In Windows Vista (and the upcoming Windows 7), you just right click on the shortcut and select Open File Location. In Windows XP, however, you don't have this option.
In the past (and in haste), I would right click on the shortcut, select Properties and then copy and paste the already selected target field into Windows Explorer. This works, but it takes extra steps to accomplish the task. There's an easier way:
- Right click on the shortcut.
- Select Properties.
- Click the Find Target button. The shortcut's target folder (or containing folder) will open.
This method seems obvious, but is easy to miss if you're in a hurry.