Sigh. I have already posted on this. It is IE5. We will have a fix when Whitman returns. There are lots of things you can try: installing mfc42.dll, installing ole32.dll, uninstalling IE5, reinstalling SP4, reinstalling GEMS from CD, bowing three times to the east, and waving a dead chicken.
If you want the definitive answer you will have to wait for Whitman. In the mean time ponder why you installed Internet Exporer before we posted our testing results.