I wanted to install emacsW32 but it seems that the installer leaves all files under admin's ownership.
I could change the ownership, but still, when launching it, it tries to write to admin's home (and of course, gets permission denied). My guess is that somewhere in the registry something is assuming that the user who installs is the user who will use it (almighty-user-mode, the standard up to XP on most cases).
I cannot be 100% sure that it's the installer. But even if it's not, the general question arises,... what to do with programs that still use almighty-user-mode?