Problem with Delphi 3.0 under WINNT 4.0

I have a problem with Delphi 3 (version 3.0 build 5.53)Professional under
Windows NT4.0 (build 1381:servicepack 3).

It was installed under Administrator and will only be used by the one user
on this machine.

When a project is saved an error message ('?||' is not a valid identifier)
is displayed.

The identifier name varies with different objects having focus on a form
when the save is performed.

The above error is also received when an empty project is saved.

Someone suggested that I install under the user who will be

I tried installing under different types of users and still get the same

In addition I also get an installation error:
    "There was an error registering c:\Program Files\borland\common

The local Borland distributors cannot help either.

The problem is rendering my Delphi totally unusable.

The error was posted on several news groups but no working solution yet.