OK here is something I found a problem with several end users in our hospital was that when implementing tap and hold, it took way too long to enable. Most of the time users would move the stylus before the circle completed leaving them frustrated and many would repeat the process over and over again(with frustration) until it worked or just revert to the keyboard...which kinda defeats the purpose of having a Tablet PC in a clinical environment. I am sure this will be remedied for most users with the flicks(http://www.microsoft.com/presspass/features/2003/oct03/10-29TabletSDK.mspx) in Vista, but I still wanted to find a way to increase the speed for systems not advancing to Vista.
I found the solution rather quickly under Control Panel->Tablet and Pen Settings->Pen Options->Press and Hold (from Drop down list)-> Settings-> Press and hold duration.
As they say in Boston - MUCH Bettah!!!