I recently downloaded albumwrap extracter and failed to create an icon or
a shortcut to get to it.
Woe is me because now I can't find in my program files.
In addition, I'm looking for a 'simple' program like "Goldwave" that will enable
me to clip unwanted portions from either end of a song.

The albumwrap extractor might be found under "infamus" although you might of course have forgotten to instal it. Why don't you download it again if you really can't find it?

for mp3 editing. Try this http://home.hccnet.nl/p.luijer/

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To get Phex Click on the Fox

After I downloaded albumwrap, there was no installation process. You simply run the .exe file. Look in the folder where you store your downloads.