Well I believe LaunchELF will load that LAUNCHELF.CNF file from where ever the program is executed from. My own test versions save and load the config files from my PC. Of course, the default config on first run is saved to mc0:/SYS-CONF.
In regards to background loading, customizer things have taken a backseat for sometime. It will probably never be taken off the table but like dlanor has said there are more interesting things to pursue yet. I vouch for the following 3: IOP reset changes, MC backup routine, and other improvements to overall functionality(MC rename, MASS rename, and most importantly reliability).
Here are the changes already completed for LaunchELF v3.41l
-Added a modified makefile for loader to the source package that was forgotten early on.
-Added "Development related issues.txt" file to the source package.
-Added Slam-Tilts "NETWORK SETTINGS" option that allows the user to edit the IPCONFIG.DAT file at mc0:/SYS-CONF.
-Renamed a few things such as menus and menu messages.
ps2ftpd new additions and changes: Included ps2ftpd.irx and source changes.
-Added a fix for multiple mc directories bug, which occurs when both slots contain PS2 memory cards.
-Added "mass" as a supported filesystem device so it shows up with "mc" and "pfs" in the root device listing.
-Changed a few things in order to accommodate support for USB mass fixing a sub directory issue.
-Created a workaround to fix a "mass" listing issue do to timestamps not being able to be accessed. (Note: Hopefully this is only temporary but as of now all files/folders timestamps for "mass" show up as "1/1/1970").
-Altered files: config.c/launchelf.h=Network Settings option, main.c=load usb device driver when launching ps2net, draw.c=version_id