0xC0000034 with SP1 on OEM Windows 7 Installations

This morning I read about a crash issue with Service Pack 1 for Windows 7 on machines that came with the preinstalled OEM copy of Windows 7.  Nick Whittome posted a description and various workarounds on his Facebook page.

EDIT: there were some issues with the Facebook link so you can go to a post on TechNet instead.