If you're using Windows XP Pro, this can be accomplished by using gpedit.msc. I can't remember for certain, but I don't think this is included with XP Home. GPedit is your best option.
Then you create the image on a laptop that you've already configured with gpedit.msc. You can lock down the entire system... including access to the Control Panel, Start Menu, etc. Once the image is created, the same settings will be copied to the other laptops when you reimage them.
Start - Control Panel - Administrator Tools - Local Security Policy
Look through it and you can start making changes on it. You'll also want to remove Administrator rights from the user accounts so they can't install software or other things.
When you finish with the Local Security Policy, you can export it and then import it on each computer. If you need help, you can google "Export local security policy" or look into "Secedit.exe" for help.