I had a similar problem installing gpresult.exe on a workstation. According to a newsgroup post, you have to give the system account full access to your hard drive. Here is how to do it:
1. Start Windows Explorer, right-click the computer''s root hard drive, and then click Properties.
2. Click the Security tab, and then click Add.
3. In the "Select Users, Computers, or Groups" dialog box, click the SYSTEM account, click Add, and then click OK.
4. Under Allow, click to select the Full Control check box, and then click OK.
5. Click the TEMP folder and then verify that the SYSTEM account has full control.
Verify the Registry Permissions
1. Click Start, click Run, then type "Regedt32" (without the quotation marks).
2. For each of the registry hives, follow these steps:
a. Select the hive.
b. For Windows XP, on the Edit menu, click Permissions.
For Windows 2000 and Windows NT 4, on the Security menu, click Permissions.
3. Verify that the SYSTEM account has been added and that it has Full control. If it does not, add the SYSTEM account with Full control.