Invalid username specified: A required privlege is not held by the client

[Dee <devlists.email@xxxxxxxxx>]

I am trying to install version 8.3 on windows 2000.  I created a Local account named "postgres" and granted it "Log on as a service"       and "Log on locally" rights as described here
 http://pginstaller.projects.postgresql.org/faq/FAQ_windows.html#3.3
   
But when I get to the "Install as Service" and enter the "Account Name" the installer keeps returning the error message:   "Invalid username specified: A required privlege is not held by the client".  

What does this mean?

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