I see many people are having the same problem I encountered a couple of days ago.
When you try to install the “beta 1” of Adobe Integrated Runtime (air_b1_win_061107.exe), a message box informs you that the entry point of AttachConsole cannot be found. That’s because you are probably using Win 2000, and that specific procedure (API) is not available on that version of the Operating System.
The previous version of the runtime didn’t show that problem because was distributed as an installer (MSI) and not as an executable.
The only solution is to wait for Adobe to release a new version in the MSI format (or maybe to extract the installation files from the EXE?)