The full message, "Windows cannot access the specified
device, path, or file. You may not have the appropriate permissions to
access the item." may be seen on Windows XP SP2 systems with certain
security restrictions in place. This is normally due to a flag placed
on the file as a result of being moved from another computer or network.
Right click on the executable and choose "Properties" and look to the bottom of the "General" tab. Here you should find an "Unblock" button provided to allow normal access to the executable.