Hi, Sean. I Google'd the error code you are getting and it looks like something may be up with Windows Installer on your machine.
In that search, I found the information in this link that may be of some use (this is a similar problem with a different product) :
Just scroll down to where it says, '3 answers' and see if you have the same update that they are talking about. Outside of this, you may have to contact Microsoft.
Hope that helps some. Sorry about that!
Gary