Scott;
DISCONNECT the subject computer from any network IMMEDIATELY.
VERY IMPORTANT to repair, closing ports is NOT enough.
Download the patch from the Windows Catalog. http://support.microsoft.com/?kbid=323166
You want: 823980
After this is resolved prevent similar occurrances by installing ALL
Critical Updates from Windows Update.
Keep antivirus up to date and run at least weekly.
Instasll or enable a firewall.