This article explains why the QuickTime 3 installer for Windows 95/NT may zip through the installation quickly and not work, and offers the solution.
DISCUSSION
This behavior is usually caused by the temp folder being locked.
The simplest way to correct this is:
1. Rename the temp folder found in the C:\WINDOWS\TEMP directory.
2. Create a new temp folder in the C:\WINDOWS directory.
3. Run the QuickTime 3 Installer.
4. Verify it is installed by playing the sample movie that is included.
5. Delete the the temp folder you created.
6. Rename the original temp folder back to temp folder.