Here is the way I do it.
Do your install from you Admin account. Where possible, use the add/remove programs panel to do so.
in c:\documents and settings\all users\ copy the start menu folder.
Copy this folder and overwrite the start menu in c:\documents and settings\default user\ This is a hidden directory.
**note** you only have to do this once. afterwards, you merely copy the start menu program group from either the all users account or the administrator account, depending on where it is.
Now, delete EVERYTHING but the "startup" from c:\documents and settings\all users\start menu\
Ensure that all program groups that are in your Administrator start menu are in the Default User start menu. Once they are, I delete all the program groups that I won't be using from as an administrator.
Now what you have to do is copy all the program groups that you want to use in your user accounts to their individual start menus from the default user account. All accounts are listed in c:\documents and settings\ so you must create and log in to the account before you can do this.
The only other thing you have to watch for, especially in older programs, is that sometimes a user account may need full read/write access to a specific folder...which Win2k and XP do not give. If you navigate to the folder and go to its security options in its properties, you can set specific read/write access security policies.
Hope that helps!