David Woakes added the comment:
This issue is not related to anything in the Python 3.4 release. It's a problem
with the installer not asking to be installed as administrator.
Running C:\Python34\Scripts\pywin32_postinstall.py as administrator after
installing fixes
New submission from David Woakes:
I've seen issue 21050 and tried a complete uninstall, delete c:\python34 and
install of python 3.4.
I can't get win32api to load unless I copy pythoncom34.dll and
psywintypes34.dll to C:\Python34\Lib\site-packages\win32 from
C:\Python34\Lib\site-packages
