I would suggest you first determine which DCOM (Distributed Component Object Model) Server software is failing to register itself within a reasonable period of time. To do this, you should run regedit, and search for 784E29F4-5EBE-4279-9948-1E8FE941646D
Hopefully, you will find this key under the HKEY_CLASSES_ROOT hive. If you are able to find it, look at the "InProcServer32" and "ProgID" subkeys, as this will tell you what software is "timing out". If its not under HKEY_CLASSES_ROOT, you may find clues to its identity under the other hives (HKLM and HKCU).
To make a long story short, some software is trying to register itself as a "Server" that other programs/machines can call remotely, and it is taking too long to set itself up during this registration process.
Once you determine what software is causing this, you should try re-installing, repairing, or re-configuring the software to see if that helps. Also, once you know the name of the software, you can look in Event Viewer->Windows Logs->Application to see if that application is giving any errors. Then, do a Google search on this error message to find the problem.