Contributed By: Cliff Hobbs [MVP ConfigMgr/ SMS]
Yes there is. By default if you just execute "SMS2003sp3.exe" the download file is verified and it's contents are then extracted to a randomly generated directory name such as "60c50eb08c58c52d4a".  Once the extraction is complete the "Software Update Installation Wizard" screen shown below is displayed.

If you cancel out of the installation at this or at any future point, once you confirm you want to cancel the installation the temporary directory name is deleted which can be a real pain.

BUT if you run "SMS2003sp3.exe" with the "/x" switch as shown below you'll see the "Choose Directory For Extracted Files" dialog box that allows you specify the directory you want to extract the SP3 files to (browse or type the name of the directory then click "Ok").

D:\Data\Download New\SMS 2003\SP3>sms2003sp3 /x

Once extracted (you'll see an "Extraction Complete" dialog box), the directory stays there until you delete it, regardless of whether you cancel the installation or not.

NOTE: Once you've extracted the files you need to run "autorun.exe" to start the installation of SP3 as the installation doesn't happen automatically as it does when you just run "SMS2003sp3.exe".

To see other SMS 2003 Installation and Configuration related FAQs click here.