I already have. I call it Tools. In here, I have the Help, About, Settings, PTT and a bunch of other apps that I don't normally use. Besides that, in every folder under Menu, I had at least 12 applications per folder. All of these I use often enough that they won't be relegated to some NEVERUSEBUTWONTUNINSTALL folder.
I don't know how many apps you have installed on your phone, but if you can get away with an S40 device, then more power to you.