I'm afraid I can't help you with the PC/administrator part - cause generally, if it won't let you run, Windows is pretty stubborn about it. Sorry.
I also have the version 1.0.0.0, so I think that's the latest version that's out. I can't check to see if there is another because the Dev Team's blog is down right now.
So, yeah, if your Windows machine isn't behaving, it's probably time to do the CLI route. That's how I jailbroke my iPhone, so I know it works well. In fact, from observing this forum and our sister iPhone forum, it looks as if people are having more luck with the CLI version. Of course, and as always, YMMV.
In case you decide you have to go that route, may I be so bold as to point you at the tutorial I wrote for the CLI method:
Tutorial: Jailbreak the iPad2 on 5.0.1 with Absinthe Using Windows and the CLI Tool
Not to toot my own horn, you understand. But, it may be helpful to see all the steps laid out before you start...
Good luck and sorry you're having troubles. Please, let us know how you get on.
Marilyn