Fastest way to bluetooth tether a phone in Windows 8

In "Devices and Printers", right-click the iPhone and select "Create Shortcut". It should create the shortcut on your desktop.

You can right-click it and connect via that shortcut.

You can bind Win-B to tether Bluetooth.

1. As suggested by Techie007 create a shortcut by going to "Devices and Printers" right-clicking the phone and selecting "Create shortcut".
2. Put the shortcut in a directory like "C:\Windows\BluetoothLink" by itself
3. Install Autohotkey
4. Right click on the Desktop, and choose "New" -> "AutohotkeyScript"

5. Enter the following:

   #NoEnv  ; Recommended for performance and compatibility with future AutoHotkey releases.
   SendMode Input  ; Recommended for new scripts due to its superior speed and reliability.
   
   #B::
       SetKeyDelay, 200
       Run, C:\Windows\BluetoothLink
       Sleep, 300
       Send, {Down}
       Sleep, 200
       Send, {AppsKey}
       Sleep, 550
       Send, {Down}
       Send, {Down}
       Send, {Right}
       Send, {Enter}
   

6. Save the Autohotkey script (e.g. Ctrl-S)

7. Double click the Autohotkey script to run it
8. Press Win-B, test that it works
9. Open your startup directory (e.g. press Win-R and type "shell:startup")
10. Make a shortcut to the Autohotkey script (so that it works even after reboot).