Binding Engine in ARC10 issues

I am getting the following error

Retrieving the COM class factory for component with CLSID {7B5B7020-C4F6-11D1-BC92-0000F875BCCE} failed due to the following error: 80040111

I'm migrating 9.3 Engine to 10.0. I have the Engine Runtime and SDK installed fine, it builds just fine but the first instance of an AO class it blows up. I'm running in Windows 7, but the original code was done in Windows Vista, not sure if that matters.

I must be totally daft, because I have found this issue all over and everyone seems to find the answer by Binding the license before using any AO. I have done this, actually twice for good measure, but still errors.

Public Class frmMain

Inherits System.Windows.Forms.Form

Private Shared m_AOLicenseInitializer As LicenseInitializer = New GapTool.LicenseInitializer()
<STAThread()> Shared Sub Main()
' This call is required by the Windows Form Designer.
ESRI.ArcGIS.RuntimeManager.Bind(ESRI.ArcGIS.ProductCode.Engine)

'ESRI License Initializer generated code.
m_AOLicenseInitializer.InitializeApplication(New esriLicenseProductCode() {esriLicenseProductCode.esriLicenseProductCodeEngine, esriLicenseProductCode.esriLicenseProductCodeArcView, esriLicenseProductCode.esriLicenseProductCodeArcInfo}, _
New esriLicenseExtensionCode() {esriLicenseExtensionCode.esriLicenseExtensionCodeSpatialAnalyst})
Application.Run(New frmMain())

'ESRI License Initializer generated code.
'Do not make any call to ArcObjects after ShutDownApplication()
m_AOLicenseInitializer.ShutdownApplication()
End Sub

Private Sub InitializeEngineLicense()
Dim aoi As AoInitialize = New AoInitializeClass()

'Additional license choices can be included here.
Dim productCode As esriLicenseProductCode = esriLicenseProductCode.esriLicenseProductCodeEngine
If aoi.IsProductCodeAvailable(productCode) = esriLicenseStatus.esriLicenseAvailable Then
aoi.Initialize(productCode)
End If
End Sub


Just for extra measure I do it here also,

Dim pGxDialog As IGxDialog
Dim pSel As IEnumGxObject = Nothing
Dim pGxobj As IGxObject = Nothing

Dim Result(2) As String

Try

ESRI.ArcGIS.RuntimeManager.Bind(ESRI.ArcGIS.ProductCode.Engine)

pGxDialog = New GxDialog --> ERROR HERE
pGxDialog.AllowMultiSelect = False


Any ideas, this is days of wasted time. Sorry for bringing up old issues

thanks