Event log Error: Failed to CoCreate profiler

I am unable to run a complete performance profile on my asp.net app.

System:
WinXP SP2
ANTS 2.60
http://localhost/MeasuresWebUI

The app starts ok, but after logon and a couple of postbacks the app slows to a crawl and I start getting "Failed to CoCreate profiler" errors in the event log. I do get some profiling data before the problem starts, but nothing after. Sometimes, but not always, the app completely hangs and never returns from a postback.

I have read other posts and have already tried the following:
reregistered the core dll
run the service as a local administrator
reinstall ANTS, completely removing the previous installation folder

Thank you for any help you can provide

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