@alnite: This method is often good, and is practiced to some degree (e.g., Windows settings are split into many different areas, and settings tend to be per-application rather than global in most platforms). But can it always be done this way? Where are the network settings? Where does an email client put server settings? Do I have an annoying always visible "click here to change wallpaper" on the desktop?
Maybe not always, but I think it should be adopted more. The history easily comes to mind because I always go to the History menu on Chrome, but to find that I can't even clear my browsing history from there. Signature is another one. I've spent about half an hour looking to edit my email signature on Outlook, before giving it up to Google. Just pretty bad usability, and I am no average user. I couldn't imagine what nightmare would be for average non-technical people.
I thought Apple products in general is better in handling this, though sometimes I feel like I have to put more clicks than necessary just to get there.