There is no default admin account when I log into safe mode.... It comes up with Owner again.... But Owner is a restricted account.... I just had a thought - it's an ownership issue - but I have dismissed it because of the permissions I found the Owner did have.... They are accurate per a limited account.

Rather than speculate could someone do me a favor and go here, d/l and make the floppy and then take a look into the SAM on WinXP Home and tell me what you see....