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#11
A Standard User's UAC setting is "Always Notify". The Windows 7 "default" is one step below that. Not quite the same.
Personally, I have a standard user account set up. Entering my "root" password to make changes to the operating system is similar to the sudo/su permissions model in Linux, which I'm quite used to. It's all about layering, and a lot of documentation exists, not only from Microsoft, but other sources as well, that suggest that it is a good security practice to have a standard account for everyday use.