Nuking Content.ie5
Bring up a command prompt. (Start, Run, cmd [Enter])
Navigate to the following directory (cd documents and settings....)
C:\Documents and Settings\%username%\Local Settings\Temporary Internet Files\
%username% being your username (sub it in)
Bring up Task Manager, go to processes tab. End Explorer.exe
Now use ALT+TAB to cycle back to your command prompt.
type in rd /s /q content.ie5
exit the command prompt
ALT+TAB to task manager - click on new task, and type in explorer.exe

Done. (not positive if History is stored in folder, but it nukes all the crap)
Personally, as suggested I now use CCleaner. So much more space.... so much.
Enjoy