A very straight forward repackage using the Installation Monitoring method. As always check the registry entried recorded for extraneous stuff and strip it out.
During the repack you can run the program and set any settings you like and perform an on-line update since that will all be included in the final package. I eliminated all Start Menu entries in favor of just having a Control Panel applet.
Tested and verified on a Windows XP SP2 standalone and deployed via GPO to Windows XP SP2 in Windows 2000 SP4 domain.