Hi, maybe I can shed some light
ETHINTPL - Ethernet (network interface card) driver
EZEJECT - Safely remove hardware with Fn+F9
HOTKEY - Supports all the non-standard keys and shows OSD information for them (volume, brightness, etc.)
HPROTECT - ThinkVantage Active Protection System, detects shocks and stops your HDD if they occur
IBMPM - power management driver
IMSM - Intel Matrix Storage Manager, SATA HDD driver
KEYCUSTM - Key Customization Manager, its probably most useful feature is to disable the browser keys
MONITOR - LCD screen config file
PDIRECT - Presentation Director, apply presentation settings with Fn+F7
PRDCTRSP - Productivity Center, the application that pops up when you press the ThinkVantage button
PWRMGR - Power Manager, battery icon, power profiles, also handles Fn+F3
TP4EX - TrackPoint Accessibility Features
TPM, TPMATMEL - Trusted Platform Module (security chip) driver
UNAV - UltraNav (TrackPoint and touchpad driver)
UNAVWIZ - UltraNav Configuration Wizard
UTILITY - as you said, Configuration Utility
WLANNIT - Wireless network driver
CONWIZ - probably "connection wizard", but what for? I don't have it, don't know.
FSP - ?
IAAHDAXP - ?
AUDIO, HDAMODEM, VIDEO - self-explanatory
Anyway, you will probably be better off downloading updated drivers
from Lenovo (at least download the OS fixes from there).
The order shouldn't really matter, except that on Vista you install Lenovo interface driver first. Generally, install drivers before applications, ie. power management driver (IBMPM) should be installed before Power Manager (PWRMGR), UNAV before UNAVWIZ and TP4EX, and the WLAN driver should already be present when you install Access Connections (not on your list).
As for nLite, I think you can simply delete all drivers if you integrate your own.
Edit: CONWIZ is probably Access Connections. Sorry if I got something wrong. The first thing I did with my T60 was to get rid of the preload, so I didn't really have the opportunity to get to know all these abbreviations
