["HKEY_LOCAL_MACHINE\SOFTWARE\Paint.NET" is denied]

I am getting these error messages when trying to install v3.0:

System.UnauthorizedAccessException: Access to the registry key"HKEY_LOCAL_MACHINESOFTWAREPaint.NET" is denied.

at Microsoft.Win32.RegistryKey.Win32Error(Int32 errorCode, String str)

at Microsoft.Win32.RegistryKey.CreateSubKey(String subkey, RegistryKeyPermissionCHeck permissionCheck, RegistrySecurity registrySecurity)

at Microsoft.Win32.RegistryKey.CreateSubKey(String subkey)

at PaintDotNet.SetupNgen.MainImpl(String[]args)

at PaintDotNet.SetupNgen.Main(String[]args)

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An unhandled exception ('System.UnauthorizedAccessException') occurred in SetupNgen.exe[432]

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There is a problem with this Windows installer package. A program run as part of the setup did not finish as expected. Contact your support personel or package vendor.

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There was an error while installing Paint.NET. (1603)

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I am on XP/sp2 and have tried editing permissions of the afore mentioned registry keys (when they were available to), now they are not even showing up to edit even after about 8 installation attempts. Have tried the Windows Install Cleanup app as well to no avail.

The installer only gets far enough to create the directory: c:\Program Files\Staging\(PaintDotNet_1032485459.msi & PaintDotNet_1032485459.msi)

I am completely baffled why this is happening. Any ideas?