There's nothing wrong with it...your version of WinRAR is too old and needs updating = minimum version 5.0 required
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Problem Resolved.
My thanks to:
fredderf, biggerdave,pe1agp,rusigor,the Maverick
for all of your input, the Lump Hammer did come a close second in the list of suggestions.
However having sorted out my WINRAR (it was rev 4.1) a low level format and clean install of 9.510 resolved the issues.
Thank to everyone for their great support.
And of course you've already done a full Windows backup now!
Glad to hear you got it fixed...do as Dave says and do a full backup, just in case
By the way, the latest version of WinRAR is 550 and yes I have a licence