Edit:
You could also use
entry.Invoke("ChangePassword", new[] {oldpassword, newpassword});
Of course this requires requesting the current password, but my understanding is it will throw an exception if password policy is not met, where "SetPassword" is more like an administrative function.
Original:
Might want to take a look at this. However this appears to only be able to execute on Server 2003+ so not sure if this would work for you or not.
NetValidatePasswordPolicy
http://msdn.microsoft.com/en-us/library/aa370661.aspx[
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