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installed creo parametric 3.0 and when I open it, it says "license request failed for feature" and then closes after I hit OK (which is the only option I have). This keeps me from being able to use it
You may want to get an up to date license number from here: http://www.ptc.com/communities/academic-program/products/free-software
And then reinstall the license using reconfigure.exe (located in C:\Program Files\PTC\Creo 3.0\M040\Parametric\bin)
This worked for me.