Ryan,
According to KB article Q110905, status 53 means Network Name Not Found and points to the network layer.
So we can start with the basics: Are you running the right network protocols? Can you connect to the server using Network Neighborhood? If you're using TCP/IP, can you PING the server?
Try reinstalling the MDAC_TYP.exe file. This file contains the data access components. Maybe one is corrupted.
HTH
-Mike