Two of our customers experienced the identical issue after the very latest Windows 10 Update (1709) was installed in December. The result is that Outlook 2003 will not start and displays an error message “Operation Failed”. The solution is easy – just navigate to Control Panel and select the Office or Outlook Installation from the list of installed programs and choose “Repair” (warning you might need the original install disks) and the problem will be cleared. Evidently this latest Windows update (rather major update) breaks the Outlook installation in some way. Hoep this helps – we can certainly handle this “repair” if you prefer not to tackle it yourself.