This is a bad thing in a couple ways. First, it's the Microsoft RPC utility. It's responsible for all of that pop-up spam (not the browser pops but the Windows pop-ups) that has been appearing more and more as of late. Second, every version of Windows (except ME) since 95 has the darn thing.
Now that the code for the exploit is out, we'll probably see a "test" version of a worm, using the exploit, in the next few days.