RMS – Removable Storage Service hanging with error

Windows Server 2003 R2 – Standard Edition
Service Pack 1
3GB RAM
Intel Xeon 3.2GHz CPU
HP LTO Ultrium-2 Tape Drive

Whenever I try to start the Removable Storage Service is takes about 5 minutes to get to the end of the timer bar and then gives the error:

“Error 1053: The service did not respond to the start or control request in a timely fashion.”

A reboot normally fixes this but only for a day or two. This is affecting my backup software and NTbackup causing both to hang/crash.

I have seen a few fixes for this on the net but they refer to files which only exist on server 2000. If anyone knows how to fix this please let me know, would be much obliged.