Installation Issue

I've been dealing with this problem and cracking my brain for the last 2 days.

I'm installing the MySQL version on a Windows 2003 Server, I'm using MySQL version 5.0 and I've installed MySQL ODBC 5.1 Driver, I've updated the database_connection.asp file with the right credentials,  when I get to the mySQL_server_setup.asp page, and log in with the credentials to create the database, I get the following messsage:

Error Connecting to database on mySQL Server

Check the following is set up and correct:-

mySQL Server User Name
mySQL Server Password
Name of the mySQL Server
Database name set up by you on the server
Empty Database set up by you on the mySQL Server

Check also that you have entered the correct details in the file 'database_connection.asp' found in the 'database' directory.

Detailed Error Message:
[Microsoft][ODBC Driver Manager] Data source name not found and no default driver specified

What am I doing wrong?
Thanks in advance...

Ayo.

I have checked several times to make sure and I'm very sure at this point that the info in the data_connection file is accurate, I am using my own server which is a hosted dedicated server. 

Thanks for the info, I'll try downgrading the driver to 3.51,