Ok, after searching the internet for solutions on how to install/reinstall/repair CS3, I found I was not satisfied with anyone's answers.
Well, I've finally got it!
Do what adobe tells you---run that script (CS3clean).
However, after running the script, you will notice that the installation will still fail. So to get around that, go into your folders and delete any folder that says Adobe. Check your hidden folders too!
check in local, roaming, and locallow
There are adobe folders in I think all those locations. Go to Add/Remove Programs, too and delete anything adobe (I took no chances because installing takes forever, and it's frustrating to see the "component failed to install" message).
Also as a precaution, I turned off my firewall.
That did it for me!!! Good luck, and I hope this helps.