Administrator/Guest Account Status "Not Applicable"?
Solution 1:
Interesting. I haven't seen this behavior before, either. I can only find a couple of references from Microsoft in documentation to such behavior (the Windows XP Professional with SP2 Security Configuration Guide and the Windows Server 2003 with SP2 Security Configuration Guide) and the documentation is unhelpful, stating "If this setting is shown as Not Applicable in the Local Security Policy, it may be necessary to right-click the Security Settings node and select Reload in order to refresh the policy settings."
Out of curiosity, what happens when you "Reload" per their instructions?