Maybe it has something to do with the path being more than the allowed
250 characters long I think it is. Try putting your project in a different
folder of the root directory of your drive?

just a thought..

Windows XP SP3
Intel Dual Core CPU: E5200 @ 2.5GHz
4.00GB DDR3 Ram
ASUS P5G41T-M LX
PCIE x16 GeForce GTS 450 1Gb
SB Audigy 4
Spyware Doctor with AntiVirus