I found a link today on Audacity's website for the newest version (1.3.5 at time of this post) as a zip file. They list it as an option for those at a computer lab that cannot run the installer. I was able to uzip the file at work and run the program without installing. I haven't tried it from my thumbdrive yet, so I don't know what glitches or problems there might be, but from my desktop it seems to work fine!
Here's the link: http://audacity.sourceforge.net/download/beta_windows#recdown (under "Optional Downloads")
and the direct link for windows download: http://audacity.sourceforge.net/beta/audacity-win-unicode-zip/audacity-w...