A few other things I forgot to mention.
If you clicked 'yes' to install ESPN Motion, (or any other similar program) it will QUICKLY eat up a ton of disk space. On my system in two days it downloaded over 600MB of .wmv files all on it's own without my knowing until I discovered these files by accident. Many programs of this type save their files in the hidden "C:\Documents and Settings\All Users\Application Data\*". You need to show hidden and system files to see what is lurking in there. What I'm saying is there are many programs like this that you wouldn't expect, that just eats up disk space like crazy.
Also hidden in the ..\windows folder are folders named "$NtUninstall*$". Many people will say keep these folders in the event you need to uninstall a patch or service pack. Personally I delete them. I've never had a reason to ever uninstall a patch or service pack. Nor have I ever had a problem resulting from the deletion of these folders/files. If you upgraded from SP1 to SP2 and chose to save old files, you'll have an additional folder which adds up to several hundred MB and thousands of files. If you installed SP1 for MS office and kept the old files per MS recommendation, that's another 200MB+ wasted. Nuke this too.
Assuming you have 1GB of RAM, your default dynamic pagefile should be 1.5GB-3.0GB. You can change this to a static 1-1.5GB. I can't ever remember pushing my pagefile beyong 1GB, let alone 1.5GB, so you should be fine with this unless you happen to use all your RAM and then some.
Shutting off system restore will also reclaim disk space. If you regularly manually image your os/data, it lessens the need for system restore. Personally mine is shut off and I've never had a problem. YMMV.
Another potentially big disk hog are the .dbx files Outlook Express uses. If you save your sent items and don't clear your deleted items and have an overall messy inbox, these hidden .dbx files can grow into the hundreds of MB's. At the very least, clean up your email folders and select 'compact all folders' from the file menu.
Keep an eye out for certain programs which create a 'setup' folder during installation. This is redundant and unecessary in my opinion, and can be nuked. For example when installing diskeeper, this happens:
It gets installed to: "C:\Tools\Executive Software\Diskeeper" (keep)
and leaves behind: "C:\Tools\Executive Software\Diskeeper Setup" (nuke this)
There are more disk hogs out there, but this is all I can think of right now.
Good luck!