The following is true for XP, not sure about Server 2003...

If you use the 'Apply to All Folders' button on the 'View' tab of the 'Folder Options' dialog, the
view settings are stored under the following key:

[HKCU\Software\Microsoft\Windows\CurrentVersion\Explorer\Streams]

with some of the view info stored in a binary value named 'Settings', and the rest stored in the
values found under the 'Defaults' subkey.

Saved views for individual folders are stored under:

[HKCU\Software\Microsoft\Windows\ShellNoRoam\Bags]

with each numbered subkey containing a subkey named 'Shell' which contains the details of a saved
view for one folder.

The index associating folders with bag numbers is:

[HKCU\Software\Microsoft\Windows\ShellNoRoam\BagMRU]

If the 'Also apply this template to all subfolders' option (found on the 'Customize' tab of the
Properties dialog for a file folder) is used, a subkey of the folders saved view named 'Inherit'
will be created, i.e..

[HKCU\Software\Microsoft\Windows\ShellNoRoam\Bags\1\Shell\Inherit]

If that key exists, the view settings found there will be applied to any subfolder of that folder
which does not already have a view saved.

Two keys which do not exist by default but which will be recognized by Explorer if they exist are:

[HKCU\Software\Microsoft\Windows\ShellNoRoam\Bags\AllFolders\Shell]

and

[[HKLM\SOFTWARE\Microsoft\Windows\Shell\Bags\AllFolders\Shell]

They can contain the same values found in a bag for an individual folder, but they will serve as the
default view for any folder which does not have a saved view.  The 'HKCU' version governs a single
user, while the 'HKLM' version will govern all users on that machine.