Making 'User Applications' folder using hard links?

Hi,

	I have two applications folders on my hard drive (only 1 user): the  
'stock' applications folder, and then a 'user' folder where I put  
Camino, Firefox, Toast and other things that I specifically add - for  
ease of backup.  A full system restore will replace the stock apps -  
save the Safari and other upgrades - sometimes upgraded Safari goes  
in the 'User Applications' folder as well.

	This works - except it means I have two 'Applications' folders in  
the sidebar (rarely ever used), or QuickSilver (MUCH more often used  
- I need to pull the code and add a 'use per day' indicator for it  
somewhere!)

	The other place it doesn't seem to work (so far) is in the Keyboard  
pref pane's keyboard shortcuts tab - 'User' Applications aren't  
picked up for that menu - only ones in 'genuine' /Applications.

	Is there a way to use hard links to link not just a single file/ 
directory into another place, but the entire contents of a directory  
into another directory?  So that my /Applications folder would show  
all my apps, even though some were in "~/Applications (U)"?  And  
presumably the keyboard pref pane would pick up hard links (that is  
what a hard link is, right?)

Thanks,
Jim