Maaaaaan, you saved me from an entire headacheeeeeeeeeeeeeeeeeeeeeee!!!!!
No homo, but I love you for posting your solution!!!
It just returned my whole damn Windows icons within 2 minutes!!!
I have been searching the whole day, and installing this crappy service pack took me 2 hours itself, I'm really glad you posted this.. As my problem was so damn exactly the same!
and I had Stardock Fences right before installing Win 7 SP 1 !!!
and just to know, I did exactly what you did, and instead i found 2 empty string values with 3 and 4, and all I did was DELETE them and my iconz returned as fast as possible like a charm!
NOTHING AS IN NOTHING ELSE I TRIED BEFORE HAD WORKED !!!
stuff like troubleshooting, and deleting iconcache.db using cmd and restarting in Safe Mode !!!
Thanks a billion tonnes man!!! YOU SAVED MY DAY

and I just registered to say thank YOU !!!