I use Launchy in "Portable" mode (because my work PC is locked down and I may not install Launchy on it). After some 1) significant amount of config-tweaking, 2) learning curve involving moodiness on Launchy's part, and 3) learning about certain keyboard-shortcuts, it works like a charm. The fact that it's Portable is a HUGE plus to me.

I'm going to give Jarvis and Wox Launcher test-drives, if they're available in Portable mode.