Seen an interesting issue where the CCMSETUP parameters incorrectly specify MP as SMSMP, resulting in failure and exotic errors appearing in the CLIENT.MSI and CCMSETUP logs:
Just need to fire up CLIENT.MSI in SMSTRACE, find Return value 3 and you'll possibly see the following:
WARNING: The path passed for the TRK file is empty.
SMSMP cannot be specified without SMSSITECODE
@@ERR:25001
MSI (s) (1C!94) [10:10:37:046]: Product: Configuration Manager Client -- Error 25001. Setup failed due to unexpected circumstances
The error code is 80004005
Error 25001. Setup failed due to unexpected circumstances
The error code is 80004005
MSI (s) (1C:0C) [10:10:37:046]: Machine policy value 'DisableRollback' is 0
MSI (s) (1C:0C) [10:10:37:093]: Note: 1: 1402 2: HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\Installer\Rollback\Scripts 3: 2
Action ended 10:10:37: SmsSetClientConfigInit. Return value 3.
MSI (s) (1C:0C) [10:10:37:093]: Note: 1: 1402 2: HKEY_LOCAL_MACHINE\Software\Microsoft\Windows\CurrentVersion\Installer\Rollback\Scripts 3: 2
MSI (s) (1C:0C) [10:10:37:093]: No System Restore sequence number for this installation.
MSI (s) (1C:0C) [10:10:37:093]: Unlocking Server
Action ended 10:10:37: INSTALL. Return value 3.
At the tail-end of the CLIENT.MSI log file:
MSI (s) (1C:0C) [10:10:37:328]: Note: 1: 1708
MSI (s) (1C:0C) [10:10:37:328]: Product: Configuration Manager Client -- Installation operation failed.
MSI (s) (1C:0C) [10:10:37:390]: Cleaning up uninstalled install packages, if any exist
MSI (s) (1C:0C) [10:10:37:390]: MainEngineThread is returning 1603
MSI (s) (1C:54) [10:10:37:500]: Destroying RemoteAPI object.
MSI (s) (1C:D0) [10:10:37:500]: Custom Action Manager thread ending.
=== Logging stopped: 20-08-2008 10:10:37 ===
MSI (c) (1C:20) [10:10:37:500]: Decrementing counter to disable shutdown. If counter >= 0, shutdown will be denied. Counter after decrement: -1
MSI (c) (1C:20) [10:10:37:500]: MainEngineThread is returning 1603
=== Verbose logging stopped: 20-08-2008 10:10:37 ===
CCMSETUP log file drops out at the following section: SmsSetClientConfigInit
MSI: Action 13:55:32: SmsSetClientConfigInit. Setting SMS configuration ccmsetup
MSI: Setup failed due to unexpected circumstances
The error code is 80004005 ccmsetup
Installation failed with error code 1603 ccmsetup
It's a classic mistake, easily overlooked.
CCMSETUP should be saying "Command line parameters for CCMSETUP incorrectly specified, unknown parameter SMSMP identified", but it doesn't as you can see above

Read the complete post at http://wmug.co.uk/blogs/r0b/archive/2008/08/22/configmgr-client-install-failure-errors-1708-amp-1603-in.aspx