Trying to install the new version of iTunes 10.3 on a windows 7 64 bit machine.

It is unable to install because of the following error "COULD NOT ACCESS NETWORK LOCATION %APPDATA%\.  Any suggestions would be helpful.

With that particular variety of 1606 (it's a 1606 error message even though the 1606 error message number isn't returned by the iTunes installer), the following Microsoft document is worth a try:
You receive an "Error 1606" error message when you try to install or remove a Microsoft program

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