CDONTS/CDOSYS take long time for instanciate object

I was using Collaboration Data Objects for NTS (CDONTS) and Collaboration Data Objects for Windows 2000 (CDOSYS) to send e-mail from Active Server Pages (ASP) running out-of-process, the object instanciation took a lot of time so I started troubleshooting and I found some access denied over RSA\MachineKeys directory.

The problem is well described on MS Article ID 318478 and another symptom occur providing an "Internal Error" message with the error number 80090020

The Microsoft KB 278381 describe how to fix it setting the right permissions.
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Vittorio Pavesi