>You may mark this (your last) as the answer.

Well, if you search through the KB in regards to that, you'll find about six different solutions. This message is really generic, I mean, what is returned when the Web Service doesn't run. In this case, it was something like "The server process could not be started because the configured identity is incorrect.". What happened is that the update of SP3 overwrote a setting in regards to the Components Service that the Web Service COM object is running into. So, I had to enter the WAM account again. However, before finding the solution, I proceeded with the usual steps of verifying the synchronization of the WAM account from the IIS, Active Directory and Components Service. Then, when all that was correct, I verified the password. Then, I went back to the Components Service and reverified again about the WAM account and that little change did it.

So, it's just one possible way of solving the issue. In my case, that was the solution. But, I remember last year, it was in regards to a non synchronized WAM account to the 3 situations I just explained. So, the solution could be applied at various levels. I just hope that this would be better manageable in a future OS version of MS as I really don't see why the WAM account references is broken in parts like that. So, after four hours of scripting from inetpub\adminscripts directory and a lot of verifications, it came down to the lowest common denominator.