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Error message returned 'An error occurred while processing the last operation. Error code 800401154 - Class not registered

The event log may contain additional troubleshooting information.'

The other thing is, the is a red arrow icon displayed over My Computer (Component Servers -> Computers -> My Computer). I have searched everywhere for this, but I couldn't find a solution that resolves my specific problem.

I'm using VISTA and this error started after I reinstalled my SQL server 2008. I have 2 dll that I need to add but I cannot, because of this error.