Not really, if you do a snapshot just before & immediately after then run the compare function in regsnap it will auto generate a reg file for you. I bet it wouldn't contain more than 4 or 5 entries.
The Install Watchers tends to generate a lot of chaff though.
It is a while since I worked with Win9x but isn't User Level security usually specified in an NT type domain? Also, check out the readmes in the admin folder on the Windows 9x cd.
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Jack
