Well you can script the copy,
you can probably use winINSTALL Le to make an .MSI to install the folder, and deploy that via a script on a shared drive.
Just using the c$ administrative share for a manual copy on 250 boxes would only take a couple of hours.
So script yes if you can write it
secedit or gpedit won't do you Sh*t
or just copy it.
The big question is not how to get it out to 250 boxes, but is what the administrative nightmare is going to be to manage local group policies.
I'd say to create your script to include, or call a list of PC's so that you can quickly re-distribute the directory for new policies you create. Put it on the netlogon share and make it part of the logon script.
Because of the administrative nightmare you'd be best off going with a script copy solution
Personally I would make the case to upgrade to win2k or 2k3 since AD based GP is much more powerful. Remember, any lockdown policies you apply at the local level apply to ALL users including Administratiors !!
http://tinyurl.com/3etxj