http://docs.python.org/inst/alt-install-windows.html

The above says "Windows has no concept of a user's home directory, and
since the standard Python installation under Windows is simpler than
under Unix, the --prefix option has traditionally been used to install
additional packages in separate locations on Windows."

However, any modern Windows OS does have that concept (i.e. see the
%USERPROFILE% env variable).  Not sure how to best change the above, but...

The problem is that any modern Windows does not just have a single home
directory for a user, but many of them. For example, there are the
HOMEDRIVE, HOMESHARE, and HOMEPATH variables, which may or may not be set.

In the light of these, I would argue that USERPROFILE is *not* the
user's "home" directory - it is the user's "profile" directory.

So I think that the text is practically correct as it stands.

Closing as 'works for me' since the OP hasn't responded with any counter
argument to Martin's assertion and it's been open for more than a year.