Something I read about that particular piece of spyware (possibly in a link I didn't post) indicates that it's particularly difficult to get rid of, but apparently very easy to get (or get back), as it seems to come in through Internet Explorer.
Oh and this is interesting.... for spyware detection there is
Ad Aware and
Ada-ware. I'm not familiar with the second one, but I have used
Ad Aware quite a bit and it will let you selectively uninstall. It also gives you the options to backup/log/quarrantine things so they can be restored if need be.
So I'd recommend downloading the free version of
Ad Aware (I keep linking to them because the names are so similar that otherwise I'm afraid I won't be able to be clear about which one I'm referring to). Scan with it and have it remove anything it detects as "Winfavorites Object". Reboot and scan again. If it shows up clean on a rescan, you should be good unless you get reinfected.
EDIT: Oh, and if you're on Windows XP and worried about removing things, you can always make a restore point in the System Restore tool before making any changes.