The 40 step process isn't that hard. Most of the steps are things like 25: press <return>, 26: go to desktop, 27: click on 'my computer' etc. Nice and detailed.
I am not sure if creating a new Admin account and deleting the old one would work. I did something like this when I first got my Powerbook and screwed up the OS (or it might have been something else I did).
Up to you which one you try, but be prepared for a reinstall.
I have the same issue with an iBook a staffer returned when leaving our company - I have to change the admin account names, and I've been putting it off.