Some User Profile Questions

[Fred]

The basis for these questions is that I want to set up a
new account for myself (Dad) so I do not have to use
the 'Owner' profile on a day to day basis since it seems
risky should something go awry.

I am currently using XP home (SP 1) on a single machine.

I currently have 3 user profiles set up:
1. Dad (administrator) (Owner)
2. Mom (Limited)
3. Children (Limited)

Question #1: Although I named my current profile 'Dad',
it still shows up as 'Owner' when I view User Profiles
lists in places such as Explorer and System. I assume
this is deliberate. If so, what are the differences
between the 'Owner' profile and any other profile I
create?

Question #2: Depending on the answer to Question #1, is
there a disadvantage to me just copying my current user
data to a new profile (with administrator rights), then
making the current 'Owner' profile a limited account for
day to day use?

Question #3: When creating a new profile, what is the
difference between copying Profile Data to the new user
profile (via Documents & Settings) and Copying a Profile
(via 'System' in Control panel)?

I apologize for this being such a long winded post, and I
thank you for your patience.

Any help would be appreciated.