I once had a tiny utility that did just that: place two icons in any file open, save, save as, save copy as dialog:
-favorite folders (right click on current folder added to top of list)
-recent folders that had been actually recently been used for file open/save operations
Stupid me, I lost it and hours of googling could not bring it back.
Barnacle looks like it should be simple to rewrite for this purpose, I tried but have not yet been able to come up with something anywhere near working.