1. Download the "steaminstall.msi" file from steampowered.com.
Use 7-zip (www.7-zip.org) to extract steaminstall.msi to a folder "steaminstall" on your desktop (as an example).
Rename this folder to "Steam" -> Right-click the folder -> Click Rename -> type in Steam and press <enter>
This folder is now your new Steam-folder, but you wouldn't want your Steam-folder to stay on your desktop.
Move it to any folder or non-removable drive on your computer -> Right-click the new "Steam" folder -> Click Cut -> navigate to your destination drive or folder and right-click and click Paste.
In this new "Steam" folder, there's a file calles "steam.exe1". Rename this file to "Steam.exe" and run it.
Let Steam do it's update routines and log-in and let it update the Steam-interface.
Close down Steam and replace the entire "steamapps" folder within your new Steam-folder, with the "steamapps" folder on your external drive or where your previous installation of Steam was.
Restart Steam and set your particular games to "always keep this game uptodate". Re-install your games via Steam if necessary and you will only have to download very minor stuff and they'll be working again.
I got this error-1327 as my harddrive with Steam on it, died. It wasn't possible to re-install, uninstall or do anything, but I found out that the solution above works with no problems.
I did try with Registry Mechanic to clean up the leftovers from Steam, but that didn't help either.
Windows Install Cleanup (http://support.microsoft.com/kb/290301) did remove the installation from the control panel's "add/remove programs" / "programs and features" list but it still wouldn't let me re-install Steam.
