Hi there
Can say much about the wizard, but most certainly the log shipping, which is simply the "STANDBY" clause in the restore command, has nothing do to with named instance or otherwise and will work a treat.
Cheers
Ck
Chris Kempster
www.chriskempster.com
Author of "SQL Server Backup, Recovery & Troubleshooting"
Author of "SQL Server 2k for the Oracle DBA"