This worked for me:
Do NOT connect scanner before these first few steps
1. Download & save win xp drivers from HP website: http://h20000.www2.hp.com/bizsupport/TechSupport/SoftwareIndex.jsp?lang=en&cc=us&prodNameId=28447&prodTypeId=15179&prodSeriesId=28441&swLang=8&taskId=135&swEnvOID=228
The 63.4mb file is the only one you'll need
2. Right-click on the saved file and go to its properties. Under the compatibility tab, set the file to run with win xp service pack 3. Apply changes and close properties dialogue.
3. Right click on the same file and choose 'run as administrator'. Accept any windows prompts that may appear and let the program & drivers install.
4. Once the software has finished installing, connect the scanner to your computer (via USB) and turn the scanner on.
5. Restart the computer without unplugging or turning the scanner off.
6. Your scanner should now work fine with the HP Precisionscan Pro utility.