It's possible that you (or someone else) has customised the security settings in IE.

You could change the browser to a lower security setting just for the update process (or reset the medium setting to default through 'security-> custom -> restore default' probably).

The wuv3is.dll file wasn't on your system when you ran 'regsvr32....etc', so you got the 'missing library' message. You can't delete a file that isn't there.