I need a geek

I am trying to update my Creative Memories Storybook Creator software. I've been running version 2.0 just fine, but the 3.0 version looked nifty, so I upgraded. And it won't work. It says it installs fine, but when I click on the icon to run the thing, I get this:

Main exception message: Access to the path 'C:\Documents and Settings\All Users\Documents\Creative Memories\Packages' is denied.
Type: System.UnauthorizedAccessException
Source: mscorlib

at System.IO.__Error.WinIOError(Int32 errorCode, String maybeFullPath)
at System.IO.Directory.InternalCreateDirectory(String fullPath, String path, DirectorySecurity dirSecurity)
at System.IO.Directory.CreateDirectory(String path, DirectorySecurity directorySecurity)
at r8.u()
at r8..ctor()
at r8.d()
at w9.a(Boolean A_0)
at w9.a(String[] A_0)

As near as I can tell, the file path in question ('C:\Documents and Settings\All Users\Documents\Creative Memories\Packages') doesn't exist.

Commence the banging of my head against a wall. I have tried:
repairing the install
uninstalling and reinstalling
rebooting
uninstalling both v3.0 and v2.0 and reinstalling
creating that file path
and various combinations of the above.

I'm running Windows XP, Service Pack 3. Throughout the entire process, v2.0 has worked fine (well, except for the period of time when I had uninstalled, of course)

Customer service for Creative Memories is closed until Monday.

Brian and I are scratching our heads. Time to take a break and make a beer run.

But if you have any ideas or know someone who might, I would be incredibly grateful.