First of all, I apologize for the slow response. We got a little behind over the holiday period.
This is probably not what you want to hear, but the answer is to upgrade to the Professional Edition. Permissions is one of the main differentiators between the Standard and Professional Editions. Pro permissions work like Unix, though the granularity is a lot finer. Each folder has an owner and a group. Permissions can be set separately for the owner, for the group and for everyone. So in this instance, you would create a group that only the read-only user is a member of. You would then give the owner full permissions and give the group read-only permissions.
- Hans (EnterpriseDT)