A new server deployment to just fix a corrupt application? I would hate to see what happens if you run into a DC problem within your company. That doesn't seem right to me.
I ended up having the same issue, I did a backup of the HPDM server using the backup and restore tool. I then uninstalled HPDM and then reinstalled the original version with no service pack. After that was complete, I rebooted the server and restored the database backup. Then I installed SP5. All seems to be working now.