Originally posted here by nihil
Hmmmm,

I wonder if anti-malware applications that protect the Registry would thwart this one?

Something like RegistryProt:

http://www.diamondcs.com.au/index.php?page=products

There are a variety of other freebies on this site if you fancy a browse.
Another nice one which you may not of heard of which acts as an intrusion prevent system for windows and which is also free is: Prevx