Download new setup seems setup is bad..
To check match FCIV (MD5 checksum) of that setup  from the MS site to confirm its intact or not
Or

Use this setup to install on another machine.

you can use below link to download the FCIV exe
http://www.microsoft.com/en-us/download/details.aspx?id=11533


run this FCIV on the both setup from where you copied on this machine and at source one then match FCIV they must be same.
If not then this setup is having bad MD5.

Are you running from a download or CD? Maybe your file is corrupt... You can also try the 32bits to see if working... I installed Visio 2010 on Win7 x64 from Microsoft partner download and worked without any issues.

These are all x64 versions and have installed on other machines, they are Microsoft master DVDs  made from their ISOs, so I know they work.

r u running directly from DVD or copied to the machine and then tried run?

If running from DVD try to run locally after copying setup in the OS or any one of drive on the machine.

Do you have the same antivirus on both machine?

Yes Vipre throughout although I will turn it off and see what happens - good point.

Nope, turned the AV off and tried to install as an Administrator and still no joy.

Open CMD prompt as administrator and run the setup using that.

Also let us know what exactly error its giving (screenshot).

along with the log of this setup...

Haven't got Photoshop on the machine so can't manipulate the screen shot. Basically if I open CMD as Admin and run SETUP.EXE I get:

x:\CD x64

x:\x64\setup.exe

x:\x64

it seems to execute it and then come back to the command prompt. Nothing appears to be showing up in the event viewer.

okay, if cmd runs have you check for the process in task manager for this . look for setup.exe of something related this..

printscreen can be save into the mspaint. (in run window type mspaint and hit enter it will open then you can save it. )

You may have a corrupt DLL... Maybe a Windows 7 repair will help.

It came back as clean. If you don't mind I'm going to split the points amongst a couple of sound ieas but worried I might have to revisit this one, or reinstall the O/S.