I checked my .Net installations and it says that they are installed correctly, up untill 3.5 SP1. I tried to deinstall (to be able to reinstall) but it complained about other applications depending on them.
Anyway, I dumped some files. I can only hope that someone with knowhow can make something of it.
(Put some shades on when clicking these links)
SWTFU error log
DX Diagnostic file
ProcMon logfile (csv)
ProcMon logfile (xls)