C:\Documents and Settings\Ayukawa\Local Settings\Temporary Internet Files\Content.IE5
The Content.IE5 contains a sort of permanent browsing history index.dat which is one of the files that forensic software will go after.
Yeah, I ran Index.dat Suite to find all the index.dat files on C:/, and even though I had cleared absolutely everything from IE, and rebooted pc, the index.dat in ~/History.IE5 was 11,5MB and and the one in ~/Content.IE5 9,5MB... all other index.dat files were 16/32KB in size and empty when viewed into...
Windows generates the index.dat files anew at startup if they don't exist, with a few exceptions like the one in ~pchealth/ (which would be advisable to untick from the list should you attempt to clean them...)
Now, I can't be absolutely sure of the contents of those two (in History-/Content.IE5) as unlike the others Index.dat Suite weren't able to view those, simply gave a 'no content' message after a LONG while...
...however after running the batch file to remove them after reboot the sizes reverted to the more normal 16/32KB, a pretty good indication something WAS indeed inside

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Is 9,5/11,5MB a lot then? Well, think about it this way, how much would you have to write in notepad for example, to generate textfiles that size? Or how many urls that would translate to?... Remember, these files persist on the drive after all normal cleaning operations (ie reasonable measures), and as AnimeJanai said, can be used to track past activities should someone decide so

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Edit; ...and consider I hadn't used IE for browsing for close to a year, so whatever there was inside was pretty old...