EAP 6708 Not working

I installed via the windows installer, the IDE boots up fine, but it completely hangs and I have to kill it whenever I start a new project wizard. (on the searching for sources page) On top of that changing system settings is out the question as that always fails with this logging output:

2007-02-19 00:04:55,852 INFO - plication.impl.ApplicationImpl - Saving application settings failed
java.lang.AssertionError
at com.intellij.openapi.project.impl.ProjectManagerImpl.writeExternal(ProjectManagerImpl.java:126)
at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.a(ComponentStoreImpl.java:146)
at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.commit(ComponentStoreImpl.java:45)
at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.doSave(ComponentStoreImpl.java:144)
at com.intellij.openapi.components.impl.stores.ApplicationStoreImpl.doSave(ApplicationStoreImpl.java:3)
at com.intellij.openapi.components.impl.stores.ComponentStoreImpl.save(ComponentStoreImpl.java:74)
at com.intellij.openapi.application.impl.ApplicationImpl.saveSettings(ApplicationImpl.java:260)
at com.intellij.openapi.application.impl.ApplicationImpl.saveAll(ApplicationImpl.java:100)
at com.intellij.openapi.application.impl.ApplicationImpl$11.run(ApplicationImpl.java:6)
at com.intellij.openapi.application.impl.ApplicationImpl.exit(ApplicationImpl.java:320)
at com.intellij.openapi.application.impl.ApplicationImpl.exit(ApplicationImpl.java:48)
at com.intellij.openapi.wm.impl.IdeFrameImpl$1$1.run(IdeFrameImpl.java:5)
at com.intellij.openapi.application.impl.LaterInvocator$FlushQueue.run(LaterInvocator.java:13)
at java.awt.event.InvocationEvent.dispatch(InvocationEvent.java:209)
at java.awt.EventQueue.dispatchEvent(EventQueue.java:597)
at com.intellij.ide.IdeEventQueue.b(IdeEventQueue.java:167)
at com.intellij.ide.IdeEventQueue.a(IdeEventQueue.java:125)
at com.intellij.ide.IdeEventQueue.dispatchEvent(IdeEventQueue.java:142)
at java.awt.EventDispatchThread.pumpOneEventForFilters(EventDispatchThread.java:273)
at java.awt.EventDispatchThread.pumpEventsForFilter(EventDispatchThread.java:183)
at java.awt.EventDispatchThread.pumpEventsForHierarchy(EventDispatchThread.java:173)
at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:168)
at java.awt.EventDispatchThread.pumpEvents(EventDispatchThread.java:160)
at java.awt.EventDispatchThread.run(EventDispatchThread.java:121)

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