Error message on SMS 2003 Report Viewer

I have a Windows 2000 machine on which I can access SMS 2.0 Web Reporters just fine. We just put up SMS 2003 Report Viewer and I can only get to the main page. However, when I try to run any individual report, I get the following message. PS. I tried this on other machines and they also fail. 
An error occurred when the report was run. The details are as follows:
ActiveX component can't create object
Error Number: 429 
Source: SMSComponent 
Native Error: 0
Have you ever seen this before? Can you help point me in the right direction?
Did you also install SMS 2003, or are you attempting to run the SMS 2003 Web Reporting on a SMS 2.0 database? There are many new Web Reporting features in the SMS 2003 version of the software that relies on new data fields obtained from the client. If you have installed SMS 2003, make sure the clients have run at least one cycle of hardware and software inventory and the data has made it to the site server.

This was first published in February 2004

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