Какая версия Db2??
Что стоит на клиенте???
На сервере
db2pd -dbmcfg
На клиенте
db2 get dbm cfg

А вообще ошибка говорит
SQL1004C There is not enough storage on the file system to
process the command.

Explanation:

There is not enough storage on the specified file system to
process the command.

In a partitioned database environment on Windows environments,
each node in the partitioned database group must have the exact
same physical hard drive specification (letter) available and
useable (must contain useable space) for the CREATE DATABASE
command to succeed. The physical hard drive letter is specified
in the database manager configuration. If DFTDBPATH is left
blank the default will be the hard drive where DB2 is installed
on the instance owning machine (db2 installation path).

The command cannot be processed.

Я не уверен что в 7.2.1 есть OLE DB provider.

И потом ты не ответил на все вопросы.