Being able to run PostgreSQL from an accoun that is a local administrator is a much requested feature. There are times when this makes sense - say when you're test-running things from your own account, and you haven't yet taken the step to use a non-admin account. There are other cases when it doesn't, such as when you're creating a new account for the service anyway - there's just no point in making it an administrator then.
PostgreSQL on Unix has a check that prevents it from starting from the root account, and the same check exists on Windows in the form of checking for membership in Administrators or Power Users. This is a good thing, because it keeps the attack surface on the system way down. There are no plans to change this.
However, there is now a patch available (that will hopefully make it into 8.2, but we don't know that yet. It's been pending on -patches since jan 14th, but there are plenty of patches that have been waiting longer than that) that will let you start PostgreSQL from an adminstrative account. The code (which lives in pg_ctl) will then create and use what's known as a restricted token to launch the backend. This token will explicitly disable the Administrators and Power Users groups, as well as a whole lot of privileges that may be on by default. There is absolutely no way for anything executing in the database context (such as a stored procedure, or code injected through a security bug somewhere) to gain back these privileges. Since we take out the privileges as well, this actually makes the system slightly more secure than before.
The patch is available here, if you need it now. Should apply cleanly to 8.1 (and should work in 8.0, but may not apply cleanly). It only works on Windows 2000 and up, not NT4. But relly, you shouldn't be using NT4 any longer, for a lot of other reasons more important than this.
As a bonus, this patch wraps the database in a job object (when available, and will only work when running as a service) which makes it possible to do performance monitoring on the group of processes - such as total CPU used by all backends. Just use Performance Monitor, open up job objects, and it should list the PostgreSQL job object if it's running.
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