Unable to edit MS file in SharePoint 2010/2007

Issue: 
Unable to edit MS file in SharePoint and other users are able to edit.

Resolution:
The issue is with local machine. Need to clear the IE cache and temp files including check the following setting.

Install SharePoint support

If Office XP is installed on the computer, follow these steps:

1. Click Start, and then click Control Panel.
2. Click Add or Remove Programs.
3. In the list of currently installed programs, click Microsoft Office XP, and then click Change.
4. Click Add or Remove Features - Change which features are installed or remove specific features, and then click Next.
5. In the Features to install box, expand Office Tools, click the down arrow next to Microsoft SharePoint Support, and then click Run from My Computer.
6. Click Update.

If Office 2003 is installed on the computer, follow these steps:

1. Click Start, and then click Control Panel.
2. Click Add or Remove Programs.
3. In the list of currently installed programs, click Microsoft Office 2003, and then click Change.
4. Click Add or Remove Features, and then click Next.
5. Click to select the Choose advanced customization of application check box, and then click Next.
6. In the Choose update options for applications and tools box, expand Office Tools, click the down arrow next to Windows SharePoint Services Support, and then click Run from My Computer.
7. Click Update.

If a 2007 Office suite is installed on the computer, follow these steps:

1. Click Start, and then click Control Panel.
2. Click Add or Remove Programs.
3. In the list of currently installed programs, click Microsoft Office suite 2007, and then click Change.
4. Click Add or Remove Features, and then click Continue.
5. Expand Office Tools.
6. Click the down arrow next to Windows SharePoint Services Support, and then click Run from My Computer.
7. Click Continue.

Register the Owssupp.dll file

To fix the problem yourself, follow these steps:

1. Click Start, and then click Run.
2. In the Open box, type cmd, and then click OK.
3.   By default, the Owssupp.dll file is located in one the following folders, depending on your version of Office: 
   • If Office XP is installed on the computer: Drive:\Program Files\Microsoft Office\Office10
   • If Office 2003 is installed on the computer: Drive:\Program Files\Microsoft Office\Office11
   • If the 2007 Office system is installed on the computer: Drive:\Program Files\Microsoft Office\Office12
4. Type the following line, and then press ENTER:
   regsvr32 -u owssupp.dll
5. Click OK when you receive the message that states that the operation was successful.
6. Type the following line, and then press ENTER:
   regsvr32 owssupp.dll
7. Click OK when you receive the message that states that the operation was successful.
8. Type exit to exit Command Prompt.