Windows 7: New User Account load/login fails on first run. Error attached.

I need expert help with this please.
I have only one User/Administrator login setup on this Ultimate x64 system and I need a second one with Administrator level credentials. When I setup the second acccount, it seems to go well just in the act of setting up in the Users/Control-Panel, but on first trying to login to the account, I get "Failed to load User Profile" response at the login, then when I go back to the working account and check the Logs, under Security I get the following:



Log Name: Application
Source: Microsoft-Windows-User Profiles Service
Date: 9/17/2012 12:43:26 PM
Event ID: 1500
Task Category: None
Level: Error
Keywords:
User: xyz\xyz
Computer: xyz
Description:
Windows cannot log you on because your profile cannot be loaded. Check that you are connected to the network, and that your network is functioning correctly.

DETAIL - Only part of a ReadProcessMemory or WriteProcessMemory request was completed.

Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
<System>
<Provider Name="Microsoft-Windows-User Profiles Service" Guid="{89B1E9F0-5AFF-44A6-9B44-0A07A7CE5845}" />
<EventID>1500</EventID>
<Version>0</Version>
<Level>2</Level>
<Task>0</Task>
<Opcode>0</Opcode>
<Keywords>0x8000000000000000</Keywords>
<TimeCreated SystemTime="2012-09-17T17:43:26.779046800Z" />
<EventRecordID>34938</EventRecordID>
<Correlation />
<Execution ProcessID="1160" ThreadID="1424" />
<Channel>Application</Channel>
<Computer>BossHoss-PC</Computer>
<Security UserID="S-1-5-21-1506356920-1777703134-1730920560-1007" />
</System>
<EventData>
<Data Name="Error">Only part of a ReadProcessMemory or WriteProcessMemory request was completed.
</Data>
</EventData>
</Event>
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
And this:
Log Name: Application
Source: Microsoft-Windows-User Profiles Service
Date: 9/17/2012 12:43:26 PM
Event ID: 1511
Task Category: None
Level: Error
Keywords:
User:
Computer:
Description:
Windows cannot find the local profile and is logging you on with a temporary profile. Changes you make to this profile will be lost when you log off.
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
<System>
<Provider Name="Microsoft-Windows-User Profiles Service" Guid="{89B1E9F0-5AFF-44A6-9B44-0A07A7CE5845}" />
<EventID>1511</EventID>
<Version>0</Version>
<Level>2</Level>
<Task>0</Task>
<Opcode>0</Opcode>
<Keywords>0x8000000000000000</Keywords>
<TimeCreated SystemTime="2012-09-17T17:43:26.450921800Z" />
<EventRecordID>34929</EventRecordID>
<Correlation />
<Execution ProcessID="1160" ThreadID="1424" />
<Channel>Application</Channel>
<Computer>BossHoss-PC</Computer>
<Security UserID="S-1-5-21-1506356920-1777703134-1730920560-1007" />
</System>
<EventData>
</EventData>
</Event>
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
And this:
Log Name: Application
Source: Microsoft-Windows-Winlogon
Date: 9/17/2012 12:43:04 PM
Event ID: 6004
Task Category: None
Level: Warning
Keywords: Classic
User: N/A
Computer:
Description:
The winlogon notification subscriber <Profiles> failed a critical notification event.
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
<System>
<Provider Name="Microsoft-Windows-Winlogon" Guid="{DBE9B383-7CF3-4331-91CC-A3CB16A3B538}" EventSourceName="Wlclntfy" />
<EventID Qualifiers="32768">6004</EventID>
<Version>0</Version>
<Level>3</Level>
<Task>0</Task>
<Opcode>0</Opcode>
<Keywords>0x80000000000000</Keywords>
<TimeCreated SystemTime="2012-09-17T17:43:04.000000000Z" />
<EventRecordID>34882</EventRecordID>
<Correlation />
<Execution ProcessID="0" ThreadID="0" />
<Channel>Application</Channel>
<Computer>BossHoss-PC</Computer>
<Security />
</System>
<EventData>
<Data>Profiles</Data>
<Binary>F4010000</Binary>
</EventData>
</Event>
++++++++++++++++++++++++++++++++++++++
Can someone give me a hand with this?