24x7 Installation Problem Windows 2008 r2

I am having a problem bringing up 24x7 the first time after installation on a new WIndows 2008 R2 server.

When I click the desktop icon, I get a dialog box message
Cant convert legacy format settings preference.xml (access is denied)

this is followed by a dialog box message
An error occurred while reading from or writing to the job database file
check your permissions, the file is valid and its not locked by other processes

After these occurs the 24x7 GUI appears but the job database is the default one not the converted one.

This installation is upgrading from an old 3.4xx version, so I installed the old version first and copied the job database from the old server to the new one. The old 24x7 process is not running at the time I get the message.

I seem to have the ability to write files in the 24x7 folder although I am not an administrator.

What am I doing wrong?

It sounds like the same issue someone is having here http://www.softtreetech.com/support/phpBB2/viewtopic.php?p=28461 Please see it for the solution.