I did a little more hunting in case you want to mess with your first computer anymore.
http://aspoc.net/archives/2007/12/05/how-to-move-the-winsxs-directory-in-vista/
That tells you how to move the directory, but the same walkthrough could be used for renaming it, or if you just move it to your desktop then you don't have to rename it because the new install of the C++ 2005 files will recreate the folder.
This is part of the reason I skipped over Vista entirely. </3
But anyway, glad to hear you've got it running on one computer. Is the second computer 64 bit? If so maybe you could just copy the winsxs folder contents from one to the other using your pre-windows permission work around.