While I was googling to get some information, came across this little topic on how to store user settings(like recently opened file, form location, etc) without using Xml or ini or registry.
The answer is Isolated Store. This feature helps to store the information embedded in the assembly and specific to the user.
Article Resource: http://www.reflectionit.nl/Articles/UserSettings.aspx
And the sample app can be downloaded from here
There is another excellent article in codeproject which explains this http://www.codeproject.com/KB/dotnet/user_settings.aspx
Side Note: A time saver I guess for drag & drop list box implementation http://www.reflectionit.nl/DragDrop.aspx.