Today I messed up with my C drive and deleted one of the folder named Adobe Version Cue CS3 in Program Files. When I tried to open Photoshop I got the following error. Have a look :
By chance I had a backup of all of the files in my C drive and I restored it back. Here is simple solution if you come across to error.
a) First download this file and extract it using Winrar.
b) Now copy the Adobe Version Cue CS3 folder and paste it in C:\Program Files\Common Files\Adobe
c) Now restart your PC and you are done !