Bolt on to the Theme My Login plugin by Jeff Farthing. Instead of giving 404 error – if disable wp-login.php is selected – it redirects to the relevant TML page. I created this because there were many links on my sites to /wp-login.php and /wp-login.php?action=register and enabling this security option broke the site. The code was written by Jeff on the forum – I’m publishing it to help others who may have had the same issue.