cannot compile / verify anything

when trying to verify the most basic sketch I get the following error message:

C:\Program Files\arduino-1.0\hardware\tools\avr\bin\avr-g++ -c -g -Os -Wall -fno-exceptions -ffunction-sections -fdata-sections -mmcu=atmega328p -DF_CPU=16000000L -DARDUINO=100 -IC:\Program Files\arduino-1.0\hardware\arduino\cores\arduino -IC:\Program Files\arduino-1.0\hardware\arduino\variants\standard C:\Users\Mike\AppData\Local\Temp\build2501999559368574717.tmp\sketch_mar03b.cpp -oC:\Users\Mike\AppData\Local\Temp\build2501999559368574717.tmp\sketch_mar03b.cpp.o avr-g++: CreateProcess: No such file or directory

This is arduino-1.0 installed on Windows 7 64-bit.

I'm very new to all of this and don't really know what I'm talking about, but could this have something to do with other g++.exe on my system?

I don't know, any help please.,93501.msg702692.html#msg702692

Also, is there a hardware\tools\avr\bin\avr-g++ file relative to the arduino.exe file? That is, did the Arduino zip file uncompress correctly?