recentf: abbreviate paths? tilde for home folder?

[David Reitter]

How can I get recentf to show abbreviated paths in the "Open Recent"  
menu?
That is, show paths just like in buffer names, where path names are  
shown only where necessary in order to distinguish between existing  
buffers.
At least, I'd like to be able to replace my home folder with a tilde  
where possible.

thanks. 


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