I have EQ5 and the following is what I do. These instructions were from the EQ Forums in answer to my question on Jan 24 2007 about deleting a project
My Computer
C Drive
My Documents
My EQ5
PJ5
When you open the PJ5 folder you'll see your project name. Place your cursor on one to highlight it. Then press your keyboard Delete key and it will be gone.
Instructions are also in the Design Cookbook on page 11. The page title is Deleting a Project. Hope this helps.