How can I fix this Application event log error?

Question: The Application event log on my Windows Server 2003 for Small Business Server SBS server is overrun with this one particular error (see the attached screenshots).

What do I need to do to fix this error (or prevent it from showing in the Application event log so that only legitimate errors and messages will display)?

Here is the exact error:

b3ddcb18-8730-48ed-bbde-f42e70d84992, 2010-12-27 3:54:50 PM, ERROR,  [
(TimerCallbackID = 2e9385c7-6d00-4cd1-81b8-bb55a64ed2a2)
(RecoveryAttemptNumber = 11401)
(DateWhenFirstErrorHappened = 12/27/2010 9:33:44 AM)
(ConfigCacheManagerID = a45c0ad2-5d57-4023-adf2-807a2f5f8e3f)
(CacheName = SoftwareUpdateServices_AppConfigSettings_ConfigCacheManager)
(Process Directory = c:\windows\system32\inetsrv)
(Web Path = NULL)
 An error happened in the timer Callback method: An exception happened when we were trying to check for modifications (or read settings) out of the config file. The callback will keep re-trying until it succeeds. ]  Exception_MESSAGE: (Couldn't find key [MSCOM/SoftwareUpdateServices/2.0/ConfigFilePath] in AppSettings . See method ConfigFileUtility.GetAppSettingValueOrThrow. )  Exception_SOURCE: (Microsoft.UpdateServices.Common)  Exception_STACKTRACE: (   at Microsoft.MSCOM.SoftwareUpdateServices.UniversalUtility.ConfigFileReader.GetAppSettingValueOrThrow(String sAppSettingKey)
   at Microsoft.MSCOM.SoftwareUpdateServices.UniversalUtility.ConfigFileReader.GetConfigFileModifiedDateTime(String sAppSettingKeyToConfigFilePath)
   at Microsoft.MSCOM.SoftwareUpdateServices.LocalUtility.MSComConfiguration.Microsoft.MSCOM.SoftwareUpdateServices.UniversalUtility.ICacheableConfigSettings.IsConfigFileModified()
   at Microsoft.MSCOM.SoftwareUpdateServices.UniversalUtility.ConfigCacheManager.CallBackForExpiredTime(Object oState))

For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.



Solution : - 
First try my above suggested solution, incase that does not work, then you will need to reinstall it :
Steps are Here : -
How to manually remove all of WSUS
http://blogs.technet.com/sus/archive/2008/11/05/how-to-manually-remove-all-of-wsus.aspx

In addition to the Blog above you may also need to remove the "Windows internal Database"


To uninstall Windows Internal Database
Open a command shell.

Call msiexec with the correct key for the operating system platform.

On 32-bit platforms: msiexec /x {CEB5780F-1A70-44A9-850F-DE6C4F6AA8FB} callerid=ocsetup.exe

On 64-bit platforms: msiexec /x {BDD79957-5801-4A2D-B09E-852E7FA64D01} callerid=ocsetup.exe


Then if you decide to reinstall

http://technet.microsoft.com/en-us/library/cc708091%28WS.10%29.aspx

http://blogs.microsoft.co.il/blogs/yanivf/archive/2007/09/23/install-wsus-3-0-step-by-step.aspx