This is the error that crops up when you have a phantom drive showing up in your computer.
Digital cameras, and sometimes printers, can create an F:\ or drive listing on your computer.
For various reasons, this temporary F:\ drive can get associated in your registry with Temporary files. This results in the registry recording software being installed on F:\, or some other drive, even if that drive doesn't exist.
The way to fix this is to modify your registry.
Please note! If you are not comfortable working in your registry, contact an IT professional and have them assist you. Making a mistake with your registry can cause serious issues with your computer.
Also, please back your registry up before trying this solution.
To reiterate, if you are not comfortable working in the registry, have an IT pro help you. Better safe than sorry.
Here is our technical document discussing this issue, with an alternate solution:
http://usa.autodesk.com/getdoc/id=TS64914
I got around the 1327 error by creating a partition called E: on the hard disk. Youtube made it easy.