Restricted users accounts & share photos

sorry of this is the wrong forum. I want to create a second account for my kids to use the mac and lock it down so they can't install/remove/delete anything BUT i also want to be able to share the iphoto & imovie libraries with them as they enjoy browsing through the album. Is this even possible and if so is there any 3rd party software that I can use to lock down the profile. I'm used to doing this in windows and using registry to hide drives, block apps, etc but not with mac.

Yes, there is a recent thread on this. Search 'private' and ' iPhoto'

EDIT: This was the thread

*Mac-Forums.com* > Digital Lifestyle > Images, Graphic Design, and Digital Photography > Keeping private images...private?