This is some of the mumbo-jumbo I've found in the Error Log going back to the start of the problem... Anything make sense?
The machine wide Default Launch and Activation security descriptor is invalid. It contains Access Control Entries with permissions that are invalid. The requested action was therefore not performed. This security permission can be corrected using the Component Services administrative tool.
The COM+ Event System detected a bad return code during its internal processing. HRESULT was 800706BA from line 44 of d:comxp_sp3comcom1xsrceve ntstier1eventsystemobj.cpp. Please contact Microsoft Product Support Services to report this error.
A condition has occurred that indicates this COM+ application is in an unstable state or is not functioning correctly. Assertion Failure: SUCCEEDED(hr) Server Application ID: {02D4B3F1-FD88-11D1-960D-00805 FC79235} Server Application Instance ID: {F919B434-C7E0-4B29-8158- A06AC57A53B9} Server Application Name: System Application The serious nature of this error has caused the process to terminate. Error Code = 0x8000ffff : Catastrophic failure COM+ Services Internals Information: File: f:xpsp3comcom1xsrccomsvcs trackertrksvrtrksvrimpl.cpp , Line: 3000 Comsvcs.dll file version: ENU 2001.12.4414.702 shp
The COM+ Event System detected a bad return code during its internal processing. HRESULT was 800706BA from line 44 of d:comxp_sp3comcom1xsrceve ntstier1eventsystemobj.cpp. Please contact Microsoft Product Support Services to report this error
Faulting application svchost.exe, version 0.0.0.0, faulting module unknown, version 0.0.0.0, fault address 0x00000000.
Hanging application iexplore.exe, version 8.0.6001.18702, hang module hungapp, version 0.0.0.0, hang address 0x00000000.
Failed extract of third-party root list from auto update cab at: with error: A required certificate is not within its validity period when verifying against the current system clock or the timestamp in the signed file.
Faulting application lws.exe, version 12.0.1280.0, faulting module lws.exe, version 12.0.1280.0, fault address 0x000d1847