On released systems w2k and xp, for example, it might work. Might not. If you are willing to not be able to do installations that muck with the registry, you might dodge a bullet once in a while. You may have introduced another level of annoyance to your attacker.
On Vista, once again, M$ knows better than you what is good for you. If you are an administrator, you will run as a user unless you elevate the privilige level. They also have a shitload of new privilige levels. There is one called "Trusted Installer" that is a genuine significant rectal discomfort. You can be the sole adminstrator on the machine and you CAN'T change any settings or delete/modify files that have that privilige. In any event, they are now putting in ways around the new security features to try to make the system less obnoxious to upper end users.