I just installed VS 2010 v 10.0.30319.1 RTMRel on 64bit Win7 Ultimate and keep receiving the following error when I try to open a web project. I have repaired and reinstall but
This was happening to me as well. In my case I installed Visual Studio on my D drive which is not my system drive. After reading a link found in ChiliYago's blog post I found that the root cause was that files were missing from %ProgramFiles%\Microsoft Visual Studio 10.0\Common7\IDE (Which is what the error message says).
In my case, the missing files were installed in C:\ProgramFiles (x86)\Microsoft Visual Studio 10.0\Common7\IDE and not D:\ProgramFiles (x86)\Microsoft Visual Studio 10.0\Common7\IDE. My solution was to copy the missing .dlls from the install directory on the C drive to the install directory on the D drive, and the error stopped happening.
I had previously installed an Express edition of C# and un-installed it before adding Visual Studio 2010, this may have contributed to the problem for me.