How to hide recycle bin from desktop on Windows XP (and on Windows Vista)
On Windows XP, if using the XP style, add DWord value with name “{645FF040-5081-101B-9F08-00AA002F954E}” and value “1″ in HKEY_CURRENT_USER\SOFTWARE\Microsoft\Windows\CurrentVersion\Explorer\HideDesktopIcons\NewStartPanel\
On Windows XP, if using the classic style, add DWord value with name “{645FF040-5081-101B-9F08-00AA002F954E}” and value “1″ in HKEY_CURRENT_USER\SOFTWARE\Microsoft\Windows\CurrentVersion\Explorer\HideDesktopIcons\ClassicStartMenu\
On Windows Vista, click on the recycle bin, press “del” or “canc” on the keyboard.
Actually you can do this in XP without a registry hack. I did a write-up here:
http://joe-riggs.com/blog/2009/05/hide-recycle-bin-on-xp-desktop/