Microsoft Visual Studio 2012 Setup may fail on Windows 7 system with the below error screenshot:

VSError

As per the Setup failure log (dd_vs_***_58*****875_vs_professionalcore.log):

MSI (s) (A4:48) [18:08:37:579]: Executing op: CustomActionSchedule(Action=RollbackHttp.992B75DB_179A_4B48_B260_9FD0862C9A76,ActionType=3329,Source=BinaryData,Target=Uninstall,)
MSI (s) (A4:48) [18:08:37:580]: Executing op: ActionStart(Name=ReserveHttp.992B75DB_179A_4B48_B260_9FD0862C9A76,,)
MSI (s) (A4:48) [18:08:37:581]: Executing op: CustomActionSchedule(Action=ReserveHttp.992B75DB_179A_4B48_B260_9FD0862C9A76,ActionType=3073,Source=BinaryData,Target=Install,)
MSI (s) (A4:A8) [18:08:37:605]: Invoking remote custom action. DLL: C:\Windows\Installer\MSIA1BF.tmp, Entrypoint: Install
04/15/13 18:08:37 DDSet_Entry: WcfToolsInstall
04/15/13 18:08:37 DDSet_Status: HttpReservation::PerformInstall
04/15/13 18:08:37 DDSet_Status: HttpReservation::IsInstalled
04/15/13 18:08:37 DDSet_Status: HttpLibrary::HttpInitialize
MSI (s) (A4!E8) [18:08:37:646]: Product: Microsoft Visual Studio Professional 2012 -- 04/15/13 18:08:37 DDSet_Error: Internal error: 1060.

I tried the below steps:

C:\>netsh http show urlacl

URL Reservations:
-----------------
The handle is invalid.

C:\>net start http
The service name is invalid.

I ran httpcfg.exe tool http://technet.microsoft.com/en-us/library/cc787508%28WS.10%29.aspx

c:\>httpcfg.exe set urlacl -u http://+:80/Temporary_Listen_Addresses/ -a DSadA;;GX;;;WD)

HttpInitialize failed with 1060.

C:\>net helpmsg 1060
The specified service does not exist as an installed service.

So I checked the HTTP driver properties and found that both Start & Stop buttons were disabled as shown below:

HTTP

To open HTTP driver properties, please follow the steps indicated below: 

1. Open Device Manager.
2. Click the View menu, and then click Show hidden devices.
3. In the list of devices, double-click Non-Plug and Play Drivers, right-click the device you want, and then click Properties.
4. On the Driver tab, click Start or Stop, and then click OK.

The above issue clearly indicated HTTP driver was not functional. After further debugging, I found that it was due to missing 32 bit Start DWORD value in the registry HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\services\HTTP (below screenshot). Hence, I created it manually and rebooted the system.

reg

Then I was able to install the Microsoft Visual Studio 2012 successfully on the system.