I guess they could have called it "Check monitor resolution" as I'm sure that's the task most performed through that link, not "personalizing" the appearance of one's desktop via wallpaper and color scheme.
It's the same number of clicks (3) in XP, Vista, and I believe pre-XP as well (the resoultion tab isn't the default one in that dialog) and one fewer than XP via the control panel.
It was called "Display Properties", and now it's "Display Settings".
Frankly, I'm dissapointed that they didn't get around to changing the rest of the classic control panel "applets" to the new page navigation style. A number of them could use some reworking/consolidating.