(I've made a tech support request and haven't heard back yet. If I do, I'll post the answer/results/hopefully success.) I've scoured this site and the web for this specific problem to no avail, so I hope I can help someone else once we get this sorted out.
I picked up a new MobilePre yesterday (the gray/black 2nd generation.) NOT the MobilePre USB, which is different and has different drivers. Something that is a bit frustrating is that the knowledge base doesn't yet have an entry for this device--there is only info for the older MobilePre USB. Not sure who to contact regarding that oversight, maybe someone will see it here.
Configuration: Dell laptop, 4 GB RAM, Windows 7 Home Premium 64-bit
UAC is turned off and I disabled my antivirus for troubleshooting.
The "Install M-Audio MobilePre 1_0_4.exe" program, run as administrator, comes up with the error "The system administrator has set policies to prevent this installation." I'm fairly certain this is because the first thing the installer does is try to install the 32-bit MSVC 2005 Redistributables. (This is a set of DLL's that developers send out with applications written with microsoft visual c++, with support for certain microsoft libraries.) This is obviously not good on a 64-bit operating system, and thus the "policies" error message shows up preventing it.
I can't determine any easy way to force the M-Audio installer to instead skip over installation of the MSVC libraries, because it sounds like there are actually 64-bit Windows 7 drivers inside the installer! (I'm thinking if I could uncompress the .exe somehow, and manually finding the device .inf and supporting files..)
I'm confused why I'd be the first person to be reporting this (as far as I can find) but perhaps someone has figured out a workaround.
Since I couldn't install the correct drivers, I just tried plugging in the device. Windows7 installs it as a Generic USB Audio device, which is not useful. The bundled Pro Tools SE will not recognize this device (Unable to locate Avid hardware.)
Thanks for any help/insight. I'll keep you posted if I get a response or figure out a workaround.