With contributions by Patrick Shanahan and Steve Wilson.

Setting up your favorite screen saver

First, create a shortcut to your favorite screen saver on the Desktop. Here is how:

Open Explorer and navigate to the \Windows\System folder. 
Click on the heading of the Type column. 
Scroll down to the Screen Savers. 
Right-click on the screen saver of choice and drag it to the desktop. 
Let go off the mouse button and choose Create Shortcut Here. 

Activating the screen saver

You can activate the screen saver by double clicking on the shortcut you just created. If you want the screen saver icon off your desktop, move it to a folder of your choice or drag it to the Start button. Alternatively, you can assign a shortcut-key to the screen saver through the property sheet of the screen saver shortcut you just created.

Default screen saver for Office users

Steve added yet another twist to your options:

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