This is handy for people who want to modify things for "fun". But I agree with Jeff. For personal use there is not much to be gained.
I used to change wallpaper and sound schemes etc in Win95 Win98 Win2K and XP - but since Vista I have not bothered. Perhaps this is because the designers have got better at creating something attractive and not too intrusive. Or perhaps I'm less bothered by recent ones.
The Windows Startup sound in 98 and Win2K was SO depressing! One of the first things I would do was to change this to the Win95 standard startup sound (created by Brian Eno).
The procedure you outline certainly beats hacking into DLL files like in XP.
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