I was excited to try out the new IDE, but I could not get the application to open on windows. I filed (along with lots of other people) a bug on the problem and today a workaround was posted in the bug thread. Apparently the problem can be solved by setting your JAVA_HOME environment variable.
Here are the steps for setting the JAVA_HOME environment variable (thanks to Marko for posting these steps):
Open Control PanelYou may have to modify the value of the variable depending on what version of Java you have installed and where you installed it. It turns out I didn't even have JDK installed so I had to take care of that first. These steps solved the problem for me and I was able to run Android Studio, no re-installation required.
In the top right search box type environment
Click the search result that says Edit the system environment variables
In the System Properties window, click the advanced tab
Click the Environment Variables... button on the bottom
In the Environment Variables window, under the System Variables heading, click New...
In the Variable name field type JAVA_HOME and the Variable Value field type C:\Program Files\Java\jdk1.7.0_21\ (if that folder doesn't exist, you may have the 32 bit version of the JDK installed in which case you'd add C:\Program Files (x86)\Java\jdk1.7.0_21\)
Click OK, OK, OK.
Double click the Android Studio Setup exe.
From the discussion in the bug thread, it looks like Google will likely address this issue during the installation process in future builds.