I had a similar issue with a Migration... My solution was the followoing:
If you did an import follow starting from here... if not see futher down.
1) Disable the Organization you setup with your default install.
2) Enable the new organization that you imported and set it as your default
a. Restart the server
b. Or try iisreset and restart the async service for CRM
3) If that does not work try removing\deleting the org. that you setup with your default install of CRM from deployment mgr.
a. Restart server
****Start here if you did not do an import *****
I looked at MS KB950100 which has some info that may shed light on your issue. Here is what I had to do since I was running on W2K8 w/CRM 4 & SQl 2K5 all on one machine.
add the "Network Service Account" or the account you are running the CRM service under to the following groups IIS_USRS & CRM_WPG group
and restarted the server.
Next check IIS 6 or 7 and verify the applciation pool that CRM is running under. Again mine was running under the Network Service account.
Then I had to add the Network SErvice account to my SQL server so it had access to the CRM databases. (connect to sql open roles.. add the user to sysadmin role) select the db's it needs to access click ok. Restart IIS.) and you should be up and running.
If not reboot one last time.
