You can temporarily solve this problem by granting local admin permission to the .dat files in this folder:
C:\windows\system32\driverstore
http://support.microsoft.com/kb/2793718/en-US
This KB also has some support on the matter, but when I reset my printer drivers to default, I ended up killing every printer I had (literally none would install). Process Monitor keeps spouting off an ACCESS DENIED on infpub.dat, since I'm trying to run the printer install from mmc.exe as a local administrator.
I tried recreating the files (just deleting the old ones) and it didn't help. Only granting permissions helps.