I go this exact same error, which was a little irritating. For me it was that I was telling RStudio to use x64 (64 bit).
I had to uninstall R completely, start up Rstudio, it asked for the location of R
I installed bot 64 and 32 bit versions
Pointed RStudio to the newly installed R, but the 32 bit location this time. It started fine.
Done using RStudio 0.98.507 with R 3.1.0 [Windows 7 64Bit]