Yes, but the launcher installer is beta software, and it's not yet clear exactly how the launcher will be packaged with Python 3.3. Clearly if packaged as an automatic installation with Python, it will use Python defaults.
Note that ALLUSERS was introduced precisely because Microsoft didn't think things through initially with sufficient care, and there's no way to get consistent behaviour across XP and Vista/Windows 7. It's possible to force ALLUSERS=1 in the .msi, but this means that non-admin users can't try the launcher. Unfortunately AFAICT, there's no obvious solution which "just works", though if someone were to point out a solution it could certainly be tried.