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IE8 at factory defaults wouldn't cause this but IE9 beta would, defaults or not, has it been installed at any point? Or has any other beta application such as a beta service pack been installed? That wouldn't be compatible either.
If the answer to all those is no then I would simply try uninstalling via Control Panel, running MCPR removal tool (Useful Links at the top of this page), rebooting and reinstalling directly from your online account.
Attempt to uninstall, either via Control Panel or Start menu, results in the same blank white panel in the middle of the screen.
But running MCPR.exe directly, without prior uninstall, seemed to have removed all McAfee products. I was able to successfully install my standard configuration antivirus product (not McAfee).
Thanks for the assistance!
Are you fully up to date with Windows Updates both critical and non-critical? Also check that Adobe Flash and Shockwave are up to date and Java also. I find it ofdd the uninstaller would also be blank.
Have you been using registry cleaners? They can corrupt legitimate files quite easily.