This is possible, but an admin script that creates them would be much more secure.

As long as your clients are Win2k or higher, you can use a nested share, which eliminates the need to create a share for each user. For example: Set the share as \\server\share. Create the user folder under share, and connect to the share as \\server\share\user. Set the permissions for each user and you are done.
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(... better days ahead)