The /s means the file will be silent merged to the registry. If the /s parameter is omitted the user will be asked to confirm the operation. In Windows 98, Windows 95 and at least some configurations of Windows XP the /s switch also causes RegEdit.exe to ignore the setting in the registry that allows administrators to disable it. When using the /s switch RegEdit.exe does not return an appropriate return code if the operation fails, unlike Reg.exe which does.
Individual settings for users on a system are stored in a hive (disk file) per user. During user login, the system loads the user hive under the HKEY_USERS key and sets the HKCU (HKEY_CURRENT_USER) symbolic reference to point to the current user. This allows applications to store/retrieve settings for the current user implicitly under the HKCU key.

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