I don't have Leopard, so I'm not perfectly familiar with the way the GUI ACL tool in Leopard looks, but the basic idea is that, if you want your admin user to be able to open/modify files in your other user(s)'s home directories, you should just put the admin on the ACL for the top level home directory (e.g. /Users/guest/) and then enable the ACL recursively so that it applies to all subdirectories.
I think at the command line, this would be something like:
Code:
sudo chmod -R +a "admin allow read,write,append,delete,list,search,add_subdirectory,delete_child,file_inherit,directory_inherit" /Users/Guest
Where admin is the short name of your administrator account and Guest is the short name of the other account. With any additional access rights you want beyond that. Then you would have access to the whole home directory and all its contents.