> Run as administrator installs to the
> administrator user's profile running
> the install.

wrong, this will not install in the user's "profile running the install" but in the built-in  Administrator account (which is hidden by default). this is not the same as a user account with administrative rights.

*in Windows Vista and 7 the option to execute a command as different user is hidden by default ("shift + right click", however, will reveal this option).*