Sure,
Group Policy Editor can do it (Start, Run, type gpedit.msc & hit enter). Under User Configuration | Administrative Templates | Windows Components | Windows Explorer | Common Open File Dialog folder it's the first item listed, 'Items displayed in Places Bar'.
I played around with it a little, it seems that if you don't choose all five Windows will still fill in the blanks, but it works. Wolf's Code quote above is the actual Registry Control keys used when you use the Group Policy Editor. I actually like his way better because you can delete keys and only list what you want.