Apparently you can install multiple versions of Internet Explorer on one machine! This is very cool.

Safest Universal Technique (XP Pro/XP Home/2000)

Find the following files in the installation files of IE 5.01 or IE 5.5 SP2

IENT_S1.CAB

IENT_S2.CAB

IENT_S3.CAB

IENT_S4.CAB

IENT_S5.CAB

Use WinRar extract theses files to a new directory.

Then do the same with the resulting files

IENT_1.CAB

IENT_2.CAB

IENT_3.CAB

IENT_4.CAB

IENT_5.CAB

Next delete the following files

SHLWAPI.DLL

COMCTL32.DLL(found this in IE 4.01 SP2, which I am working on now)

And finally create a blank text file named… you guessed it… “IEXPLORE.exe.local”

And BAM!!! – you got yourself a standalone version of IE!
Multiple Versions of IE on one machine!