Today I had a developer ask about moving old DTS packages into SQL Server 2008 SSIS. This is our first real test SQL Server 2008 instance and we had never done this. He was attempting to use the Package Migration Wizard to move the package into SSIS. We installed the BI Visual Studio Components and also the Backward Compatibility Components during the SQL Server 2008 installation. We verified all this and asked if he could try again. He did and sent us the same error. I found the following article that explains how to resolve the issue.
Apparently, in MS’s infinite wisdom, the decided that you will also need to install the following.
This on the install media you just need to dig down and find it. Once we installed this everything was fine and the developer was able to move the DTS package over using the Wizard. Not sure why they make us do an additional install that is not available during the install of the product.