I just installed Maya 2012 yesterday through the student site. After entering my serial number and product key and after attempting to run Maya, it gives me a "fatal error saving in..." message. I decided to go back to using my Maya 2010 instead in the mean time and it now gives me the same error for 2010!
I was hoping someone could help me. Desperately need to finish a project over the next few days.
Try deleting your prefs and then re-start Maya. It should be in My Documents > Maya201x > Prefs.