The preferences dont have anything that you cant do from the page itself, though they do make things easier for users who may have trouble figuring out how to edit the page.

One obvious ommission from the preferences is the ability to remove a Gadget from iGoogle. Considering that it lists every single installed Gadget alongside a Share link, adding a Remove link should have been obvious. Ive had tha experience of poorly written Gadgets breaking my iGoogle page and leaving it inaccessible, and an easily bookmarkable preferences page with the ability to fix my problems could have saved me months of frustration.

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