Not really sure what benefit having 2 user accounts setup on XP (and especially 2000) really gives. Sure, you can configure the desktop settings differently, but not much more than that.
Things like disabling printers (done through the services applet in control panel) are global settings anyway, and would be applied regardless of who logs onto the machine.
The only "benefit" of having another user account setup on your PC at home (and with less rights than an Admin) would be to allow your little brother or whatever to use your PC and not f*ck it up or access any of your data!

So this leaves you with the following options:
- Change your settings on the fly (and reboot) to suit need.
- Dual/Multi boot, with a seperate hard disk for each windows install.
- Dedicated studio PC.

The later is clearly the best. I personally would never browse the web with a studio PC (even if it is dual boot and you were using the web-intended install) as if you pick up a virus or whatever then you could be well stuffed. Better to have a cheap less powerfull machine for web browsing, and keep your studio PC optimised and standalone.