Dropbox Windows Registry issue - NOT fixed!

Having struggled to get Dropbox files sharing working on my main WinXP PC I today did a full uninstall and loaded a new version 1.1.45.exe from http://dl-web.dropbox.com/u/17/Dropbox%201.1.45.exe and I was back in business for the first time in 3 months. Within 10 minutes though, the same "unable to access vital Windows registry data" message reappeared! What the heck is going on???

Dropbox Problem

When my grabber is running I use Dropbox to automatically upload the captured image to a location on the net where anyone can see the image. Recently Dropbox has been doing something wrong and when I try to launch the program I get an error message (see image). I have tried EVERYTHING to fix this, to no avail so far. Has anyone else had this issue? I looked on the Dropbox website (not too helpful), tried running Ccleaner to see if the registry entries were faulty (no luck), reinstalled the software (about 10 times now in different release versions) and deleted each when the same darn message appeared.

Help!