Here's the fix for grant access to user for Visual Studio 2008:
Download "subinacl" here. This is a command-line tool that enables administrators to obtain security information about files, registry keys, and services, and transfer this information from user to user, from local or global group to group, and from domain to domain.
After installing subinacl.exe (it will be in the C:\Program Files\Windows Resource Kits\Tools folder.) Now create a BAT file in the same folder say Fix-Visual-Studio-Registry-Access.bat. Now paste the following commands in that bat file.
subinacl /subkeyreg HKEY_LOCAL_MACHINE /grant=administrators=f /grant=system=f subinacl /subkeyreg HKEY_CURRENT_USER /grant=administrators=f /grant=system=f subinacl /subkeyreg HKEY_CLASSES_ROOT /grant=administrators=f /grant=system=f subinacl /subdirectories %SystemDrive% /grant=administrators=f /grant=system=f subinacl /subdirectories %windir%\*.* /grant=administrators=f /grant=system=f
Now you will have questions that what these commands will do. These commands will give administrators and system user of the pc access to HKEY_LOCAL_MACHINE, HKEY_CURRENT_USER, HKEY_CLASSES_ROOT, access to the system drive and access to the windows directory.
Now run your Visual Studio with Administrator Privilege and you will see All Fixed. Now Visual Studio will have permission to the registry and windows directory so it will not raise error "Requested Registry Access is not Allowed."