"iPodService.exe" Fails Register During Install & Fails to Start

Last night, I downloaded and installed iTunes 10 on my Windows XP SP3 laptop as an upgrade from 9.2 using the 'Update' utility that is installed on the 'Start' menu.

During the installation, I saw the "iPodService.exe" executable failed to register itself correctly and also the 'iPod Service' service failed to start, I checked the 'Application' event log on the laptop and I found that the following events are being logged;

Source: Application Error
Event ID: 1000

Faulting application iPodService.exe, version 10.0.0.68, faulting module ntdll.dll, version 5.1.2600.5755, fault address 0x0001b21a.

and

Event Type: Error
Event Source: MsiInstaller
Event ID: 11920
Product: iTunes -- Error 1920. Service 'iPod Service' (iPod Service) failed to start. Verify that you have sufficient privileges to start system services.

I use an account this is a local Administrator, so that I know that the have the required permissions. I have gone through the steps of rebooting, uninstalling iTunes, rebooting and then re-installing iTunes - but each time, I try the process if fails again. I have also downloaded the standalone installer, but not joy.

I also find that these events are logged when ever I start iTunes.

Has anybody experienced these?

I installed iTunes 10 on my MacBook at the weekend and its a dream to use, it just seems to be a Windows-related issue.

Many thanks in advance,