I also stumbled upon this issue.
I'm running Zenoss core 4.2.3 - and any Windows server we monitor with this will log numerous MsiInstaller 1035 events in the application log (one for every app listed in add/remove programs). As the MS KB noted by Adam states, using Win32_Product is inefficient and triggers a "consistency check" by MSI installer for each product queried. In my current config this happens every 12 hours - the Modeler cycle interval.
I also have an older core 3.x installation running and it should be noted that this does not trigger these events.
I'd like to either prevent Zenoss from querying for installed software, or better yet see the query be updated to use the more suitable Win32reg_AddRemovePrograms.