While trying to install vCenter Server, the installation of the included Microsoft SQL Server 2005 Express Edition failed. In the install logs, one can find something like this:

Error: Action "ReportChainingResults" threw an exception during execution.
One or more packages failed to install. Refer to logs for error details. : 1603
        Error Code: 0x80070643 (1603)
Windows Error Text: Fatal error during installation.
  Source File Name: sqlchaining\sqlchainingactions.cpp
Compiler Timestamp: Sat Oct 25 08:47:07 2008
     Function Name: sqls::ReportChainingResults::perform
Source Line Number: 3521

It turned out not to be a DCOM issue and Microsoft had KB 968749 in place: the solution would be to obtain the latest servicepack for MSSQL 2005 Server. But as the package was included with the VMware bundle, applying a service pack to a not-yet-installed version of MSSQL 2005 Server did not seem like a sound option. However, their workaround worked like a charm, I even tried the Fix it for me thingy: a small executable had to be downloaded and some Microsoft magic is applied to the system. After doing this, vCenter Server could be installed just fine.

Well, almost: the %systemdrive% was a bit low on space and the installation stopped when there was no more space. Windirstat revealed that %windir%\$hf_mig$ was pretty big, but should not be deleted. However, moving this directory to another drive should be OK. After doing that, a junction was created to satisfy the old pathname. With that in place, the installation continued and the system seems fine so far.