After getting SMS 2003 installed and working, we decided to start playing with reporting. It didn't take long before we ran into this error when trying to view a graph:
This report has a chart, but the Microsoft Office Web Components required to
view charts are not installed on the Reporting Point. Please contact your
Now we have to go through the process of looking up the licensing necessary for Office Web Components (OWC). Apparently SMS relies on this component for graphing the web reports.