Strange IIS Issue

Windows XP Professional Version 2002 (Includes Service Pack 2)

I attempt to Install I.I.S. (Add Windows Components)
I include
Common Files
Documentation
FrontPage 2000 Server Extensions
Internet Information Services Snap-In
SMTP Service
World Wide Web Service (All items checked)

During the install the the program Pauses at "Completing configuration of SMTP Service" for quite some time (Minutes). "Problem may lie here?"

Once it finally moves on to "Completing configuration of FrontPage 2000 Server Extensions" it pops up the following error.

Microsoft Server Extensions
"Unable to access configuration for Microsoft Personal Web Server"

Once I click [OK] the wizard claims I have successfully completed the Windows Components Wizard.

However when I run the MMC console for Internet Information Services, I notice that under the version tab it says "IIS V5.0". Isn't XP supposed to be V5.1?? .. It is on my other workstation and my laptop.

Any attempt to expand the "MyComputer" (local computer) tab produces the following error.

ERROR
"You have been denied access to this machine

This makes no sense at all. There is no error number, just that statement. This is my desktop, I am the only user, and Administrator.

Any suggestions? .. Ideas? .. I'm stumped.I get the feeling the Full Monty is coming...

(Windows reinstall)
Did you previously try to install PWS? Microsoft PWS? Made for 98.

Are you an administrator? If you are do you have full permissions to the C: drive? Its giving you a permissions error you say... make sure you have permission...

Thats all i can hope to offer.
The computer is brand new, and the installation was done by a Tech at BCom where I bought the "parts".

The Tech mentioned he had some problems with drivers, although I suspect he did not install PWS or any I.I.S. related software.

And Yes .. I am the only user and an administrator. I have installed I.I.S. on my laptop and on my other desktop. I have also configured Microsoft Visual Studio 2003 .NET so I can develop and debug ASP.NET code.

What is odd about this install, is this inability to click on the I.I.S. (local computer) without triggering the aformentioned error.

The version as listed on the other workstations is 5.1. This version displays itself as 5.0. That in itself doesn't seem right, althoug perhaps some later patch updated it to 5.1. Been a while and I don't remember.

I have decided to reinstall the O.S. (Yup the full monty as mentioned by "Lord_Rat").

I'll post again if this ends up resolving these issues.