Replace "Paint" as default program for 'Edit' Explorer command

I found this worked flawlessly in changing what Edit did, and you can choose any program you want.

1. Open up the registry editor: Start → regedit

2. Navigate to HKEY_CLASSES_ROOT\SystemFileAssociations\image\shell\edit\command

3. On the right-hand side double-click on Default and change the value to "C:\YOUR_PATH_HERE\APPLICATION.exe" "%1"

This has the advantage of changing it for all files that Windows 7 considers an image.

Source: m-schmidt.eu