Okay guys, I've done a little more background research on my end and I've figured out the problem, atleast for my system. Basically Windows 7 has extremely strange permissions and having "System" as the owner of the file won't allow for it to be writable because the "user" is attempting to write the file. In other words, you have to change the permissions of the folder and sub-folders to be owned by the "user".
It took me a bit of researching, but stumbling on this thread on some forums helped me and I'm currently downloading the launcher! Hope this helps someone else.
