This issue may occur if the Local Service account has not been granted "Change the system time" permissions. Windows Server 2003 SP1 changes the startup configuration of the Windows Time service from Network Service account to Local Service account. Therefore, the startup account that the Windows Time service uses must have "Change the system time" permissions.
By default, the Local Service account is not a member of the Administrators group and does not have "Change the system time" permissions. Therefore, the Windows Time service does not start, and event 7023 is logged in the System log.
The WMI Performance Adapter service terminated with the following error:
The problem may occur if certain Perfmon Counters were corrupt and the 'lodctr /R' command failed to repair. Have you also checked the below MS KB?
How to manually rebuild Performance Counter Library values