I am having problems with Outlook 2002.

I am trying to set up Outlook and get this message on a blank screen:
"Unable to display the folder. Microsoft Outlook could not access the
specified folder location. Could not open the item. Try again." I'm also
experiencing this problem when I try to send/receive email. The only
exception it says (for all of my email accounts): "Could not open the item.
Try again".

I have 5 more email accounts I need to set up in Outlook.

I'm using Outlook 2002. IE7 (IE says version 7.0.5730.11), can't tell if
Beta or what...