The following Windows XP settings can be backed up one "user" account at a time using the "Files and Settings Transfer Wizard"...
Internet Explorer settings - This includes items such as your home page URL, favorites or bookmarks, cookies, security settings, dial-up connections, and proxy settings, but not form field properties or passwords.
Outlook settings and store - The settings that you need to connect to your mail server, your signature file, views, mail rules, local mail, and contacts.
Outlook Express settings and stores - The settings that you need to connect to your mail server, your signature file, views, mail rules, local mail, and contacts.
Dial-Up connections
Phone and modem options
Fonts
Folder options
Taskbar settings
Mouse and keyboard settings
Regional options
Network drives and printers
Desktop contents such as shortcut icons
Desktop background image
My Documents folder
My Pictures folder
Favorites folder
Cookies folder
Accessibility
Screen saver selection
Sounds settings
Office settings
Common Office file types
NOTE: This "Files and Settings Transfer Wizard" backup method should not be 100% relied upon when backing up all of one's data. Generally speaking, this method is unique in that it can back up individual user settings. But if settings are not that important, then a raw data backup or creating a clone of your hard drive is often the better route when it comes to data backup.
If you have programs that require passwords, those passwords will not not be migrated by the Files and Settings Transfer Wizard.
The Files and Settings Transfer Wizard does not back up software programs.