"Cameyo is a free, open-architecture application virtualization product. It combines best-of-breed application virtualization technology with simplicity."
From what I've read in a review of this program, and the information about it on its website, this seems like a very useful program. The best part about it is that it is free!
I will definitely try my best to find a time to test this program out.
Homepage: http://cameyo.com/products.aspx
Review: http://dottech.org/freeware-reviews/17969
Screenshots:
Launcher:
Package Editor:
Packages:
Packaging: 
Also, I think I will post information about different programs in this format from now on. I think it looks neat and organized. ![:)]()
Cameyo is a bit like Mojopac except applications run on your desktop and not inside a virtual desktop.
The software does provide a level of virtualisation but not self-contained like SandboxIE or VirtualBox.
Pro:
-saving applications which only have a web base installation process
-creating an installer without having to enter the product key all the time
-bypassing the expiry data for trialware software (not tested)
-creating a software install with pre-configured settings
-running multiple instances of the same software (and different versions) which normally isn't possible.
Con:
-virtualisation isn't 100% self-contained
-space wasted due to having program launcher + files to unpack and run
-files are left behind after program quits
-cannot install an application outside it's virtualisation.
-not fully BartPE compatible (needs C drive to read/write data files)
-IAT modifications may cause alarm bells for Anti-Virus / Anti-Rootkit software
-packing takes ages so you better have something good to pack.
Richard S.