cannot create profiles in win 7 mail 32 bit

I upgraded to WIndows 7 professional 64 bit and still cannot get my MS Office
2003 to work properly. All the programs except Outlook seems to work fine.
I am totally unable to open outlook without mail profiles. I click on mail
in control panel and I get low memoery or resources too low. That's
impossible. I have 4GB RAM and 1GB VRAM.

In addition, I noticed to night that while I created a profile for myself as
Admin, I do ot have admin permissions EVEN IF I say 'run as admin" If I open
my profile, it syas Admin under my name yet shows up as standard user. I
tried another name and same thing. Any ideas????
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Thank you! -KLS