This will work fine, however one thing to bear in mind is that if you install a new version of the program, it will "lose" the old settings (because the settings are specific to a particular version of your program). (By "version" I mean the AssemblyVersion)
Fortunately, you can deal with this by calling the following function at or near the beginning of Main(). For this to work you will need to add a new boolean setting property called NeedSettingsUpgrade and default it to 'true':
/// <summary>Upgrades the application settings, if required.</summary>
private static void upgradeProgramSettingsIfNecessary()
{
// Application settings are stored in a subfolder named after the full #.#.#.# version
// number of the program. This means that when a new version of the program is installed,
// the old settings will not be available.
//
// Fortunately, there's a method called Upgrade() that you can call to upgrade the settings
// from the old to the new folder.
//
// We control when to do this by having a boolean setting called 'NeedSettingsUpgrade' which
// is defaulted to true. Therefore, the first time a new version of this program is run, it
// will have its default value of true.
//
// This will cause the code below to call "Upgrade()" which copies the old settings to the new.
// It then sets "NeedSettingsUpgrade" to false so the upgrade won't be done the next time.
if (Settings.Default.NeedSettingsUpgrade)
{
Settings.Default.Upgrade();
Settings.Default.NeedSettingsUpgrade = false;
}
}