just in case anyone is suffering with this, I've struggled for a few days getting it going but eventually after setting the compatibility settings correctly it installed but wouldn't start up - it kept failing with "no audio device found".

I solved this by doing a repair installation and then re-running and Kaspersky popped up a message saying would you like to allow AA3 to use the audio stream I clicked yes and now it works fine.

So if Adobe Audition 3.0.1 is not starting for you try turning off your firewall whilst you start it!

(took me 10 hours of messing about to find that out - D'Oh!!!!)

and relax :-)