Agreed, autologin through the registry leaves the password of the account in question in plain text...not a good thing.

If you are trying to lock down apps, i recommend using active directory on the domain and setting a group policy that ONLY allows the execution of specific program you decide to allow.

I have seen windows 2000 achines that had wireless cards auto login, and the network was not detected before the network credentials were sent, this leaves you with a logged in cached account with no policies in place, someone could fireup regedit grab the password and be on there way.