Can't install 437 due to "Internal error

Downloaded Version 437 and tried to install it on a Win7 Server.
Installer starts and guides me through the options but when installation is "starting" i get the error :
Internal error: Failed to expand shell folder constant "sendto"
Tried to uncheck the explorer sendto integration, without success.

Please start the installer with /LOG=<path_to_log_file> and post the log file. Thanks.

This is the log output

2012-05-04 13:58:39.041 Log opened. (Time zone: UTC+02:00)
2012-05-04 13:58:39.041 Setup version: Inno Setup version 5.4.3 (a)
2012-05-04 13:58:39.041 Original Setup EXE: D:\winscp437setup.exe
2012-05-04 13:58:39.041 Setup command line: /SL5="$301A4,2725450,54272,D:\winscp437setup.exe" /log=d:\winscp.log
2012-05-04 13:58:39.041 Windows version: 6.1.7601 SP1 (NT platform: Yes)
2012-05-04 13:58:39.041 64-bit Windows: Yes
2012-05-04 13:58:39.041 Processor architecture: x64
2012-05-04 13:58:39.041 User privileges: Administrative
2012-05-04 13:58:40.710 64-bit install mode: No
2012-05-04 13:58:40.710 Created temporary directory: C:\Users\ADMINI~1\AppData\Local\Temp\4\is-CC0FP.tmp
2012-05-04 13:58:48.479 Starting the installation process.
2012-05-04 13:58:48.479 Warning: SHGetFolderPath failed with code 0x80070005 on folder 0x8009
2012-05-04 13:58:48.479 Fatal exception during installation process (Exception):
Interner Fehler: Failed to expand shell folder constant "sendto"
2012-05-04 13:58:48.479 Exception message:
2012-05-04 13:58:48.479 Message box (OK):
Interner Fehler: Failed to expand shell folder constant "sendto"
2012-05-04 13:58:50.351 User chose OK.
2012-05-04 13:58:50.351 Message box (OK):
Setup konnte nicht abgeschlossen werden.

Beheben Sie bitte das Problem, und starten Sie das Setup erneut.
2012-05-04 13:58:51.724 User chose OK.
2012-05-04 13:58:51.724 Rolling back changes.
2012-05-04 13:58:51.740 Starting the uninstallation process.
2012-05-04 13:58:51.740 Uninstallation process succeeded.
2012-05-04 13:58:53.253 Deinitializing Setup.
2012-05-04 13:58:53.253 Log closed.

Googling for the error, it looks like you have removed SendTo folder from your profile. Can you please check?

True, the "sendto" context is there but without any destination .. strange
Will check how to repair this and report back

Somehow, the Administrator Profile was faulty.
Setup ran without a problem using a different user :?