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There is a BIG problem when you use MSM modules from Microsoft for Microsoft Visual studio 2003. The destination path of shared dll's is a root of a drive e.g. C:\. This is a total nonsense.
The correct path should be [SYSTEM]. Visual Studio 2003 uses this path. If you use [TARGETDIR] you could run into big troubles when your installation is spread in more directories.
Affected merge modules are these:
I have recompiled these modules and it works fom me fine just now. I know that this is not official solution of InstallShield, but an official solution "corrective msm" totally broke my installation and it corrupts mdac25.
If somebody does a same job, please publish also your result.