The internal account with the name "Administrator" cannot be renamed.
For other accounts with Admin rights: create a new user with admin
rights, then copy the existing profile to the new user as decribed
here: "How to Copy User Data to a New User Profile"
(http://support.microsoft.com/?kbid=811151).
Unless you are talking about some account with Administrator priviliges that
is *not* exposed in the UI, you are incorrect.
The Administrator account as presented in mmc (Manage Computer, Users; or if
you like control userpasswords2, Advanced) can be renamed as any other
account, right click, Rename. (At least on the PRO I'm working with. See no
reason why this would be different on Home)