Can't create a "New OLE DB connection" in the SQL Server Business Intelligence Development Studio

When we try to create a "New OLE DB connection" in the SQL Server Business Intelligence Development Studio we get the following error:

TITLE: Microsoft Visual Studio
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Creating an instance of the COM component with CLSID {C8B522D0-5CF3-11CE-ADE5-00AA0044773D} from the IClassFactory failed due to the following error: 8007007f.

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BUTTONS:

OK
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The Environment in a Windows 2003 Sever SP2
SQL Server 2005 SP2

{C8B522D0-5CF3-11CE-ADE5-00AA0044773D}  references the oledb32.dll at c:\Program Files\Common Files\System\Ole DB.  We replaced the file and re-registed it from the service pack, but the error still occurs (we also replaced the copy in dllcache).

When we run the MDAC component checkermost files that are mismatched are newer versions than the checker was looking for (comparing against MDAC 2.8 SP2).  There are a couple of files that an older version and we are going to try replacing them.

Has anyone seen this issue before?  Thanks in advance for any help you are able to give.
lrkwalkersAsked:
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nmcdermaidConnect With a Mentor Commented:
Just a thought:

Create a new text file, rename it .UDL, double clik it and select the same connection type. Do you get the same error or a more meaningful error?
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