I've got almost the same problem when I was trying to save the Outlook-profile string with the option "Savekey". Although I had full permissions on the registry, the .reg-file stays empty. After I added the Domain Users to the "Backup and Restore" user rights, it worked perfectly.
(Ofcourse, this was with Windows NT Workstation and not with Windows 9x.)

Richard Voorter
r.voorter@stepco.nl