Reporting Services "rsReportServerDatabaseUnavailable" error when installing TFS

I decided to install TFS today and after following the simple instructions on Cliff's notes for a team system install I came across a reporting services error halfway through the installation.
The error said something like "Cannot contact Reporting Services, make sure the database is installed and reachable blah, blah, blah" (obviously not a direct quote :-) ).

First thing I did was open the Reporting Services site in IE and found that there was an error saying that it couldnt access the location c:/inetpub/wwwroot/web.config "Access is Denied"...so I gave the NETWORK SERVICE account access to that location.
Then, I tried opening the site again and got a Reporting Services error saying the usual SQL Server error message...something like..."Cannot access SQL Server, make sure the server access remote connections blah, blah, blah"...but it did have the all important word: "rsReportServerDatabaseUnavailable" on it. I decided to Google that and found this post that fixed it.