If I call runas without the /savecred parameter using exec() in PHP (from a browser), the program writeTxt.exe doesn't produce any result. It seems that there's no mechanism for the browser to ask the user's password for runas.
In the PHP interactive mode, once the user's password has been supplied for runas, the usage of /savecred will cause the program to be executed directly without asking for password. Obviously, the PHP interactive mode is a different session from the browser's PHP. Since the browser doesn't have a mechanism to ask for user's password for runas, /savecred is apparently useless for the browser session.
Regarding my comment about the IUSR permission for system32 folder, I've tested it using this code:
<?php
exec("whoami"); // whoami.exe is in the system32 folder
?>
The browser will display IUSR. So IUSR has a read & execute access to the system32 folder.