1.Start regedit.exe
2.Navigate to HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Session Manager
3.Locate PendingFileRenameOperations
4.Remove any data associated with the value (you may want to export the value for later review)
5.Reboot and rerun installation, check should pass.
If that doesnt work, try this too.
■Make sure that after you reboot entry in the registry does not reappear.
If it does, remove it again, but do not reboot, just go ahead with installation process and click “ReRun”. Most likely you would be fine now.
■You may also try and see that other ControlSet001, ControlSet002, etc do not suffer from the same problem (solution mentioned by Mike Hills below).
■There was mentioning that some installations of Visual Studio 2008 could cause check to fail as well. So if nothing from above helped, uninstall Visual Studio (comes with light version of SQL Server), install SQL Server and then reinstall Visual Studio again.