I found a Solution to inability to create Web shortcuts and the missing "Web
Document" tab in shortcut Properties:

After extensive search of the Interned and questioning various technicians,
finally one Microsoft tech solved the problem.

The problem (in Vista Ultimate) was that shortcuts to internet links could
not be created. No matter how a shortcut to a web link was created, it would
not work. Shortcuts created by any of the many possible ways to create a web
link on the desktop, etc., all did not work. And they all were missing the
"Web Document" tab in Properties.

A Microsoft tech name Richi said to open MS Internet Explorer, go to Tools
(bring up the Menu Bar by right clicking on the area above the web page if
necessary), Internet Options, click on the Advanced tab, and then at the
bottom right, click on Reset... and then Reset. This will reset Internet
Explorer settings to:
Disable browser add-ons.
Delete browser history.
Reset user customizations.
Apply Manufacturers settings.
Then click on Close and OK

Close and reopen MSIE and if this has worked, now the web linked shortcuts
should all now have an icon with a larger logo of E (for IE) and their
Properties should show a "Web Documents" tab.

So now, dragging and dropping web links, creating new shortcuts, etc. all
should work.

Walter