SQL Server 2005 OWC11 Installation Failure

I'm getting a setup failure for OWC11 when I try and install SQL Server 2005 Standard or Enterprise on a brand new machine with XP SP2. I have tried installing OWC beforehand, but this doesn't make a difference - SQL setup doesn't appear to check whether this component is already installed. Interestingly, SQL Server Express installs without a hitch.

Belowis the releveant part of the error log. It appears that setup isn't putting the OWC MSI in the right place in the temporary setup area. Any help would be much appreciated!

MSI (s) (C4:C8) [19:03:59:921]: Executing op: ComponentRegister(ComponentId={2B9CB878-8D8B-41C8-BDD4-17D80DC4FC5D},KeyPath=<Microsoft.Office.Interop.Owc11,Version="11.0.0.0000",Culture="neutral",PublicKeyToken="71e9bce111e9429c",FileVersion="11.0.5530.0",State=3,,Disk=1,SharedDllRefCount=0,BinaryType=0)
MSI (s) (C4:C8) [19:03:59:921]: MSCOREE already loaded, using loaded copy
MSI (s) (C4:C8) [19:03:59:937]: Executing op: ActionStart(Name=RemoveODBC,Description=Removing ODBC components,)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: ODBCDriverManager(,BinaryType=0)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: ODBCDriverManager(,BinaryType=1)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: ActionStart(Name=CreateFolders,Description=Creating folders,Template=Folder: [1])
MSI (s) (C4:C8) [19:03:59:937]: Executing op: FolderCreate(Folder=C:,Foreign=0,)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: ActionStart(Name=InstallFiles,Description=Copying new files,Template=Copying file: [1])
MSI (s) (C4:C8) [19:03:59:937]: Executing op: SetTargetFolder(Folder=C:Program FilesMicrosoft OfficeOFFICE11)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: SetSourceFolder(Folder=1FILESPFILESMSOFFICEOFFICE11|FILESProgram FilesMicrosoft OfficeOFFICE11)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: ChangeMedia(MediaVolumeLabel=OFFICE11,MediaPrompt=Please insert the disk: Microsoft Office 2003 Web Components,MediaCabinet=1PA800302.CAB,BytesPerTick=32768,CopierType=1,,,SignatureRequired=0,,,IsFirstPhysicalMedia=1)
MSI (s) (C4:C8) [19:03:59:937]: Executing op: AssemblyCopy(SourceName=OWC11PIA.DLL|Microsoft.Office.Interop.Owc11.dll,SourceCabKey=OWC11PIA.DLL,DestName=Microsoft.Office.Interop.Owc11.dll,Attributes=1024,FileSize=461416,PerTick=32768,,VerifyMedia=1,,,,,ComponentId={2B9CB878-8D8B-41C8-BDD4-17D80DC4FC5D},IsManifest=1,,,AssemblyMode=0,)
MSI (s) (C4:C8) [19:03:59:937]: Resolving source.
MSI (s) (C4:C8) [19:03:59:937]: User policy value 'SearchOrder' is 'nmu'
MSI (s) (C4:C8) [19:03:59:937]: User policy value 'DisableMedia' is 0
MSI (s) (C4:C8) [19:03:59:937]: Machine policy value 'AllowLockdownMedia' is 0
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Media enabled only if package is safe.
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Looking for sourcelist for product {90A40409-6000-11D3-8CFE-0150048383C9}
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Adding {90A40409-6000-11D3-8CFE-0150048383C9}; to potential sourcelist list (pcode;disk;relpath).
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Now checking product {90A40409-6000-11D3-8CFE-0150048383C9}
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Media is enabled for product.
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Attempting to use LastUsedSource from source list.
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Trying source C:SWWORKMOSOURCEBCMOWC11.
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 2203 2: C:SWWORKMOSOURCEBCMOWC11OWC11.MSI 3: -2147287037
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Source is invalid due to missing/inaccessible package.
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 1706 2: -2147483647 3: OWC11.MSI
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Processing net source list.
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 1706 2: -2147483647 3: OWC11.MSI
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Processing media source list.
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 2203 2: 3: -2147287037
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Source is invalid due to missing/inaccessible package.
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 1706 2: -2147483647 3: OWC11.MSI
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Processing URL source list.
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 1402 2: UNKNOWNURL 3: 2
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 1706 2: -2147483647 3: OWC11.MSI
MSI (s) (C4:C8) [19:03:59:937]: Note: 1: 1706 2: 3: OWC11.MSI
MSI (s) (C4:C8) [19:03:59:937]: SOURCEMGMT: Failed to resolve source
MSI (s) (C4:C8) [19:04:30:953]: Product: Microsoft Office 2003 Web Components -- Error 1706. Setup cannot find the required files. Check your connection to the network, or CD-ROM drive. For other potential solutions to this problem, see C:Program FilesMicrosoft OfficeOFFICE111033SETUP.CHM.