This is a great introduction to a few issues that will keep you from performing a least privilege install of SharePoint v3/2007. In particular the file permission issue for the Tasks directory was pretty insiduous and is what has tripped me up in the past. Its good to see that the instruction guides were correct although one wonders how they made that statement without testing it appropriately (In which case they would have seen the errors that plague the attempt to install SharePoint as a non-Admin user). What is also interesting is that apparently, SharePoint hotfix installations can break least privilege installs.
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