I’ve been attempting to set up my own wallet, but am having difficulties. Last week I began installing the standard Bitcoin client. When I first attempted I got to the process of downloading the blockchain. My computer ran for about 36 hours until the process failed. I asked on the message boards and they said there may have been some corrupted data. I attempted to re download the blockchain, but when I reinstall Bitcoin, I now get a failed to initialize message. I deleted the original files (except the wallet file) and still get a failed message when Bitcoin starts. It's getting pretty frustrating. I sent 1 bitcoin to the first address I created (though it had not yet and never did finish downloading the block chain). Would deleting the wallet allow me to start over?
If you sent a coin there, of course you need to keep the wallet itself or you won't be able to claim that coin.
You may delete and re-download the blockchain, though.
Or you can try to open the wallet with another client.