A problem with no known solution

I’m working on this Toshiba laptop, Windows XP Home with SP2.  Basically what happens is that IE7 when opened, immediately closes.  Also when I attempt to view events in the Event Viewer, when I double click on any event be it in the System or Application directory, I cannot view the item.  Nothing happens when I double click.  I searched high and low yesterday, all day, via Google and could not come up with a simple fix.  I was able to save the Event Viewer files to a network drive and view it on my bench computer and found that all the errors had to do with COM+ and Volume Shadow.  Even after researching the error message/code, I was unable to come up with a working solution.

This stumped me and is giving me fits.  I would like to know how to fix this rather than just wiping the system out and then reinstalling Windows.  I haven’t had a tough problem like this for quite some time.  My other conscience tells me to just wipe it as it is probably going to take way too much time to figure out a fix and even if I can, it believes Windows is heavily corrupted.

I scanned for spyware and viruses, none were found.  Another thing that I am having issues with it uninstalling programs.  Whenever I try to uninstall programs from the Add/Remove within Control Panel, I receive error messages saying that 1. It cannot find the install.log and then 2. Random .DLL errors.

The above mentioned symptoms are the main issues that I am having.  Hopefully I can figure out something today otherwise I will just go ahead with the wipe/reinstall.

Update:

I ended up having to perform a clean install.  It was going to take way too much time to try and figure it out.  The last details and fix that I was able to do had to do with WMI.  I had to fix the Windows Firewall as it has been corrupted.  In the third tab within the Windows Firewall settings, it had a note saying that the firewall had become corrupted.  I ended up having to re-register several .dll files and that worked.  That still left me with a messed up Internet Explorer along with Windows Update.  Hope this helps some what, if you figure it out, be sure to let me know.