Even easier than hacking the Registry.
1. At a command prompt, type "control userpasswords2" and press Enter to open the Windows 2000-style User Accounts application.
2. Highlight the user that you want automatically logged on.
3. On the Users tab, clear the Users Must Enter A User Name And Password To Use This Computer check box and then click OK.
4. In the Automatically Log On dialog box that appears, type the user name and password for the account you want to be logged on each time you start your computer.
Works with or without the Welcome Screen.