Finder on Mac OS X Lion by default is always showing “All My Files” on every new window. Well to be honest not even once I found it useful, never used it since the first install.
Even if you are a geeky Terminal fan, there are always times that you start up Finder, and you need to get faster to your important files. Most of the times I am looking for something in the Documents folder/subfolders, so here is how I have set it as the default Finder directory:
Go to Finder, main menu -> Finder -> Preferences… -> General -> and select your favourite folder in “New Finder windows show” option as shown in the screenshot below.
You can also remove “All My Files” from the Finder’s sidebar as well, just right-click and remove it, or uncheck it from Preferences -> Sidebar.