Rhythm Software makes a few applications I like and use but this one is by far the best one I’ve encountered for smart shortcuts.

It will group all you applications automatically into category’s (not all but most) and you can move apps around between categories.
Then drop a widget of the category on your pane.

Price – Free

Keep your home screen tidy, make everything easy to access!

This application is the organizer which can keep your home screen tidy, and make everything easy to access

*Organize applications, bookmarks, contacts and files using tags
*Create shortcuts on home screen for easily access
*Support import & export
*50+ commercial icons for shortcuts
*Support normal and high resolutions

Link to Market – Linky