Thanks for all the help/suggestions!
I've sorted it out. I had previously copied msflxgrd.ocx from another PC and tried to register it on the problematic PC but was getting an error. I found an older version of msflxgrd.ocx (dated 22-May-2000) and this registered fine and my app is now running well.
As for the DataGridView control, I found that it wasn't nearly as flexible as the old VB6 MSFlexGrid control as far as formatting individual cells goes, so I've stuck with what I know! I'm a relative newbie to .Net so it may just be my inexperience!
Cheers