SSIS Error Loading Excel Data with Office 2010 installed

Recently I am setting up a virtual machine to play with the new SQL Server “Denali”. The latest Office 2010 applications and Visual Studio 2010 also have been installed on it.  I open a SSIS project and create an Excel Connection Manager with default version set to Microsoft Excel 2007 to load a excel spreadsheet that was saved as *.xlsx format .
When I  use this newly created Excel Connection Manager as the Data Source in my data flow, I got the following error after click the Preview button:

The SSIS error log has following:

SSIS Error Code DTS_E_OLEDB_NOPROVIDER_ERROR.  The requested OLE DB provider Microsoft.ACE.OLEDB.12.0 is not registered. Error code: 0x00000000.  An OLE DB record is available.  Source: "Microsoft OLE DB Service Components"  Hresult: 0x80040154  Description: "Class not registered".
People will normally assume that the machine should contains the latest data provider (Office 2007 provider(12)), when the Office 2010 Excel/Access application installed on the machine. Unfortunately, it is not the case.

There are two ways to resolve this issue:

1. Install the latest office driver form the following link: http://www.microsoft.com/downloads/en/details.aspx?FamilyID=7554F536-8C28-4598-9B72-EF94E038C891&displaylang=en
2. Save the Excel spreadsheet to be Microsoft Excel 97-2003 (*.xls) format to load the data in.