what is this?

Windows Path: C:\WINDOWS
18:47:11 (Setup)-Command line: -aflt=babsst -srcext=ss -s -instlref=sst -xprm="cat=delta" /mtb=7 /mds=7 /mhp=7 /mnt=7 /aflt=babsst /affiliD=119351 /srcext=ss /instlRef=sst /s /rt.
18:47:12 (Client)-LM file is C:\Documents and Settings\All Users\Application Data\Babylon\BabAll.dat.
18:47:12 (Client)-LM imported to file.
18:47:12 (Client)-LM file access denied.
18:47:13 (Setup)-UI lang: 0, src: 4.
18:47:15 (Setup)-SourceDir: C:\DOCUME~1\ADMINI~1\LOCALS~1\Temp\3E01A915-BAB0-7891-8469-47847D530E89\.
18:47:15 (Setup)-InstallDir: C:\Program Files\Babylon\Babylon-Pro\.
18:47:15 (Setup)-SilentInstall: 1.
18:47:15 (Setup)-MinRequirements: 0.
18:47:15 (Setup)-IsUpgrade: 0.
18:47:15 (Setup)-TBInstallState: 4.
18:47:15 (Setup)-SetupType: 50.
18:47:15 (Setup)-SetupFlags: 42.
18:47:15 (Setup)-PrevVersion: 0.
18:47:15 (Setup)-TBInstall: 1.
18:47:16 (Setup)-Report: http://stat.info-stream.net/report.php?no_policy=1&lang=0&source=setup-start&stage=0&ver=9.1.1.14&affilID=119351&guid={101786CE-7D10-4065-99CA-CBD92FD56352}&mntrId=54F2000874BC3FC3&moldid=54f23e5f000000000000000874bc3fc3&sufn=Minecraft.exe&iev=8&ffv=21&crv=0&dwb=ff&dlb=ff&wbr=2&tsn=0&ibprs=NA&ibprv=0&sutp=50&sufl=66&tbp=0&prver=0&minreq=0&dtct=-10000000&wvr=501&avr=QVZHIEludGVybmV0IFNlY3VyaXR5IDIwMTM=&tbtp=def&tbinst=1&cntry=US&cat=delta&uac=0&osp=hp0:-1938492880;hp1:1881212106;hp2:0;dsp0:1881212106;dsp1:1455908139;dsp2:0;&dnt=2.0,3.0,3.5.
18:47:24 (Setup)-Command line: -ovrwbr=7 -aflt=babsst -srcext=ss -s -instlref=sst -xprm="cat=delta" /mtb=7 /mds=7 /mhp=7 /mnt=7 /aflt=babsst /affiliD=119351 /srcext=ss /instlRef=sst /s /rt.
18:47:24 (Setup)-Custom Data (1).
18:47:24 (Setup)-Custom Data (1).
18:47:24 (Setup)-Custom Data (1).
18:47:28 (Setup)-File 1 (latest.zpb) out of 11: errCode - 200, complete - 100, opt - 0, latest - 1, required - 0.
18:48:44 (Setup)-ExitInstallation 91.
18:48:44 (Setup)-exit message loop.
18:48:44 (Setup)-ExitOnError: 91.
18:48:53 (Setup)-Report: http://stat.info-stream.net/report.php?no_policy=1&lang=0&source=setup-end&stage=91&ver=9.1.1.14&affilID=119351&guid={101786CE-7D10-4065-99CA-CBD92FD56352}&mntrId=54F2000874BC3FC3&moldid=54f23e5f000000000000000874bc3fc3&sufn=Minecraft.exe&iev=8&ffv=21&crv=0&dwb=ff&dlb=ff&wbr=2&tsn=0&ibprs=NA&ibprv=2.6.1673.238&sutp=50&sufl=66&tbp=0&prver=0&minreq=0&dtct=-10000000&wvr=501&avr=QVZHIEludGVybmV0IFNlY3VyaXR5IDIwMTM=&tbtp=def&tbinst=1&cntry=US&cat=delta&uac=0&osp=hp0:-1938492880;hp1:1881212106;hp2:0;dsp0:1881212106;dsp1:1455908139;dsp2:0;&dnt=2.0,3.0,3.5&hp=2&dsp=2&tb=2&hpx=0&dspx=0&rvrt=0&excd=1111&stm=96&nvs=0&dnld=100&dcnt=1&dtot=11&dlerr=200&dltm=3&dlsz=361398&dsflr=0&errurl=latest.zpb&hpc=1998245871&spc=1998245871&tbx=0.
18:48:53 (Setup)-Setup end.

 

It's the installation code for Babylon Tool Bar, a rather nasty malware that not only installs itself automatically but almost instantaneously and it's difficult to remove.

You can try the steps located here and here to remove Babylon. Please, from now on make sure you watch and choose to opt out of any third party software that may be bundled with the software you actually want. MG's notifies you in RED at the bottom of their download information for the file if there's any third party software bundled with the download. FreewareFiles.com also notifies you if such is the case.