One alternative is a Bitnami appliance. If you have ever used VirtualBox or VMWare you will know what I mean.

If you have VMWare installed already you can be up and running in minutes.

Here's the link : Bitnami OpenERP Virtual Appliance

Here's a blog post by a guy who did it; but I haven't confirmed if he gives the correct steps or not.

Maybe you better look at the log file first.

You may find the log file here (Win7): C:\Program Files\OpenERP 7.0-xxxxxxxxx-xxxxxx\Server\server\openerp-server.log

It's probably a configuration issue or maybe PostgreSQL ??

Hi, I had the same error. However i got it resolved.

You uninstall OpenERP and Postgresql, resart the machine, clean all the traces using regedit and Ccleaner. Restart. Now right click the installation file and select "Run as administrator". This will resolve the problem