MSN Messenger 7.5.0322 full install is out!
This update is considered important because of the sign in fixes, if you have been getting error 80048820 since updating to MSN Messenger 7.5, give this one a try and see if it works!

I’ve installed it and everything works fine.

[ Download MSN Messenger 7.5.0322 from MSN website (English) ]

31 January 2006 Update: For those who have problems after installing the 7.5.0322, please try installing the latest unofficial 7.5.0324.