Help! FB3 NullPointException DotNetServerManager.startInstance(Unknown Source) when trying to debug

[freshsliceddna]

I've tried uninstalling and reinstalling FB3, even uninstalling VS2010 and related tools but no luck.  It just started happening And I can't figure out why.
I've even tried blowing away my workspace and getting a fresh build from teamprise.  The app I'm attempting to debug works fine on everyone else's machines.
Any ideas short of a clean OS install?

!ENTRY org.eclipse.core.jobs 4 2 2010-06-14 16:38:47.780
!MESSAGE An internal error occurred during: "Launching VisionLink".
!STACK 0
java.lang.NullPointerException
     at com.adobe.flexbuilder.project.dotnet.DotNetServerManager.startInstance(Unknown Source)
     at com.adobe.flexbuilder.debug.launching.AbstractFlexLaunchDelegate.preLaunchCheck(AbstractFlexLaunchDelegate.java:432)
     at org.eclipse.debug.internal.core.LaunchConfiguration.launch(LaunchConfiguration.java:717)
     at org.eclipse.debug.internal.core.LaunchConfiguration.launch(LaunchConfiguration.java:608)
     at org.eclipse.debug.internal.ui.DebugUIPlugin.buildAndLaunch(DebugUIPlugin.java:899)
     at org.eclipse.debug.internal.ui.DebugUIPlugin$7.run(DebugUIPlugin.java:1102)
     at org.eclipse.core.internal.jobs.Worker.run(Worker.java:55)

[freshslice]

I just had my IT dept wipe my laptop clean with a brand new OS install and I STILL get this error after installing Flex Builder 3 from scratch.

[JingZhe_SHAN]

I encounter the same problem, need help.