If you are developing a mobile Web app and want to test it out in the Windows Phone emulator running IE Mobile, you don't need to launch the Windows Phone developer tools with a dummy project each time and hit F5 just to click on the IE icon in order to get the browser running.
Create a shortcut icon, right-click it and choose Properties, and set the Target field to:
"{Install Drive}:\Program Files\Microsoft XDE\1.0\XDE.exe" "{Install Drive}:\Program Files\Microsoft SDKs\WindowsPhone\v7.0\Emulation\Images\WM70C1.bin"
Then you can just use this shortcut to launch the Emulator as a standalone image each time and start the browser.
Enjoy!
Joe Marini
Principal Program Manager
@joemarini