I know it’s been a very long time since this thread started, but I just found another solution to the problem, and wanted to share it just in case someone else was in the same situation.
Today, I had to install AE CS3 on a new system, to work with some plug-ins from that era (2007-ish). When I started AE, I got the error message indicating that it couldn’t find a compatible version of QuickTime. At the time, the latest QuickTime was installed on the system – 7.7.5.
The CS3 release notes mention requiring QuickTime 7.1.5. So, I uninstalled the latest QT version, went to the Apple web site to the QuickTime download page, and clicked on Previous Versions of QuickTime. The closest I found to 7.1.5 was 7.1.6. I downloaded that, installed it, and AE CS3 came up without the error message.
Then I update the 7.1.6 installation to 7.7.5 using the update within QuickTime. And AE CS3 still came up without the error message.
Problem solved, and I still get to run with the latest QT updates.