Yeah. It's supposed to be there, and if you delete it then a lot of your windows stuff doesn't work. So far I have had 2 friends in Orillia (my town) who got this same message from "a reliable source" and deleted the file, and now have to get someone to fix their system.
The "reliable source" was, of course, some other innocent person like themselves who got fooled by the orginal message. I bet it's been around the world a few thousand times by now.
This has got to be the lazy man's cheap way of spreading a computer virus. You don't have to got to the trouble of actually writing or creating a real virus, you just trick people into screwing up their own system all by themselves, and advising all their friends to do the same.
It's amazing what small minds there are out there in cyberland, with too much time on their hands.
The message also said that you had to take action before June 1st to avoid your hard disk being wiped clean, just to up the panic factor a little...sort of like a hard sell technique.