Using Windows XP I want to have a program running that always has
exclusive access to part of the screen like the taskbar when it is
configured to remain on top. When other windows are maxmized or
resized they should operate only with in the remaining area of the
screen.

daronryan,

What you're going to most likely need to do, unless you would like to
modify internal components of your computer's operating system, is
download a program specialized for this problem.  There is a wide
array of programs to keep a window "on top" of all the others; some
are free, many are shareware/trials.

I will shortly detail some of these programs for you, and hopefully
you will be able to select one that suits your needs.

SemTop!
http://www.semargl.com/products/semtop/
Allows you to keep one window on top of all the others, even when
other windows are maximized.  The software is simply an icon in the
System Tray on your Taskbar in the shape of a tack.  If you drag the
tack onto a window, it will keep that one on top of all others.
[Not reccomended]

TweakWindow
http://www.absoluteway.com/tweakwindow/stay_window_always_on_top.htm
TweakWindow not only allows you to keep a window on top, but it has a
wide array of options allowing you to make the window transparent, to
work in another window; minimize the window to the system tray; use a
Chameleon feature; change titles of windows; and many more.
[I would definitely reccomend this program]

Of the two, I would definitely reccomend TweakWindow.  I'm not sure as
to if either allows the other windows to resize around it, but with
the many different ways of hiding the window it should be sufficient. 
If you need more help, feel free to ask here.

Sincerely,
oberholtzer

Thankyou oberholtzer,

I have actually found an opensource program called HideThatWindow that
works the way I want. Unfortunately it is a bit unstable so I am going
to leave this question up to see what other responses I can. I haven't
you heard of the programs you have suggested. I will give them a try.

Daron.

Oberholtzer,

Thankyou for your response but these programs do not facilitate other
windows resizing around the pinned window.

Daron.

Daron,

In my continued searches to help answer your problem I have not been
able to find a program you are looking for, but I will continue to
look.

Sincerely,
Oberholtzer