Recently I was searching for a keylogger and stumbled upon an opensource project called Regload. Upon installation the program (regload) copies itself to the windows root directory and sets /currentversion/run to execute c:windowsregload.exe on boot. As soon as keyboard input is recieved regload copies the data to c:windowsregload.hlp which is just a simple text file. What's more is that the program is not detected as spyware or a trojan by Norton AV, Adaware, or spybot (search and destroy). The program is avalable for download at sourceforge.net. Also, various sources have combined the windows based BLAT smtp engine so that the regload.hlp is automaticly emailed to a specified email address. See more info here
Topsight.net
http://www.topsight.net/article.php/20040415132857213