Error 16 - Photoshop CS 5

Today, after I installed Photoshop CS5 , I got this error when I run the program:

and when I clicked OK , I got this:  

I have tried uninstalling and reinstalling many times... All gave me the same error. I've even tried running it in XP or VISTA compatiblity and of course Run As Administrator..  :(

Spent some time googling till I finally fixed it on my win7 laptop.. and I'm pretty sure it will work for WindowsVista and Windows XP too :) ..

 The Solution:

1. In Computer click on Organize  then choose Folder And Search Options.
   
2. In the View tab.. deselect the Use Sharing Wizard (Recommended) option under the Advanced Settings section, and then click OK.
   
3. Navigate to \Program Files\Common Files\Adobe\.
4. Right-click the Adobe PCD folder and choose Properties.
5. In the Attributes section, deselect Read-Only, click Apply, and then click OK.
   
6. In the Security tab, make sure that Administrators and System are listed and permissions for security are set to Full Control.

Hope this helps 

Lama