Your best bet would be to create a Project Template with all of your Libraries already setup in the template. Then, when File > New Project is chosen, you can choose the template for your designs.
Here is a link that tells you what to do:
I think in 2007.1 you have to do your settings in the viewdraw.ini-file. Take a viewdraw.ini-file and edit your libs in the last lines.Have a look in this file in a project in which you made your settings in "Project Settings". Copy the lines with yout libs. Then place this viedraw.ini-file in the WDIR path and it will be taken as a template for your next new project.
Sorry it took so long to get back to you, I finally got a chance to check this out and I noticed that I have no viewdraw.ini file in my corporate directory so it was defaulting to my local directory and that path is a custom path which is not correct. I'll create a correct ini file and follow your instructions to see what happens.