It has always amazed me what some people have been able to do with the Content Editor Web Part (CEWP). Good examples of the possibilities include James Milne's SharePoint Page ToolBar and Todd Bleeker's Snow Web Part. The former adds printer friendliness and a few other tools to a web part page and the latter is a Christmas gimmick that makes it snow on your SharePoint site.
Now Todd Bleeker has released a CEWP that will add a section to your Quick Launch bar with a list of subsites underneath the current site. This is a very sought after feature and this is a great solution for it. It works perfectly and it is highly customisable.
The beauty of using a CEWP is that no assemblies need to be installed. All you need to do to install the web part on a virtual server is to drop the .dwp file in the 'wpcatalog' folder. The Sub Webs On Quick Launch web part can now be added to any web part page from the Virtual Server Gallery. I do recommend to change the defualt heading from Subwebs to Subsites to be consistent with the terminology used in the SharePoint UI.