First thing you should do, if you are experiencing problems under Windows NT, is to make sure that you have the latest service pack. Each service pack fixes COM problems, so make sure you have the latest.

Search Advanced Visual Basic's "WinError"
Search the Microsoft Knowledge Base for "OLE" and "error"
Clean your Registry
Summary List of OLE Bugs
Tips For Troubleshooting Remote OLE Automation Errors
Article List for VB: OLE

And now, on with the show!

Problem: Version Compatibility of OLE Servers

   Run-time error '-2147319765 (8002802b)':
     Ole Automation error
     Element not found.

VB & VB Apps Won't Run If Windows NT OLE Service Stopped

   Unexpected error; quitting

   Unable to create embedded object

Techniques for Diagnosing & Resolving OLE Automation Errors

   429 - OLE Automation server cannot create object
   438 - OLE Automation no such property or method

Common Remote OLE Automation Errors

   -2147023143 (&H800706d9)

Bizarre OLE Automation Error under Windows NT

   OLE Automation Error
   The callee (server[not server application]) is not available and
   disappeared; all connections are invalid.  The call did not execute.

This little guy is an oddity unto himself. It is usually caused when an OLE client tries to communicate with an OLE server. The unique situation which causes this error, however, is when the OLE client is running under Windows NT and is called by an application that is running as a NT service. If your VB4/32 application is not running as a NT service you will get this message.

Another possible solution is to delete the OLE server executable, then re-install (and re-register) the OLE server application.