MSI error 0x8007005

When attempting to install TortoiseSVN 1.6.8 64-bit on Windows 7 64-bit, I
receive the following error message:

"An error occured during the installation of assembly component

{3FA0170E-227C-37C7-BAC0-64691A992C81}
HRESULT: 0x8007005"

I've tried all the obvious stuff like rebooting and disabling my virus
scanner. I also tried a few older versions, including 1.3.5 (a really
ancient version).

I've attached the full MSI log file in case that might be useful.

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