When I double-click the time in lower right corner of my screen, I get an error message saying:

rundll32.exe - Unable to Locate Component

This application has failed to start because w32time.dll was not found. Re-installing the application may fix this problem.

Both the time and the date which pops up when hovering my mouse over the time show up correctly.

Is this by chance connected to the fact that I removed the Windows Time Service from the installation CD using nLite? :| I hope someone can shed some light on this issue...

Check so you have w32time.dll in %systemroot%\system32.

If you have it there, register it by going to start->run and type in this, REGSVR32 W32TIME.DLL

..

Did that (copied w32time.dll from my win2k box, should that version of the file work? If not, any idea where I can find a proper version of the file?), and got a dialogue box saying:

w32time.dll was loaded, but the DllRegisterServer entry point was not found.

This file can not be registered.