Additional exception info rmation: Cannot open SPTimer V4 service on computer ‘.’.
There's a ton of stuff out there on User Profile Sync in Share Point Server 2010. Tech Net has some of the best material, but unfortunately Tech Net’s format restrictions are counter-intuitive. The following is the least privilege you can get away with.
Specify the SPFarm account to connect to the SQL Database. Specify your domain Database Access account (Domain\SPFarm).
Dont forget, you might have to log in to SQL Management Studio and remove the partially created farm database Share Point_Config or use a different name the second time. This account has to be DBOwner and Security Admin in the SQL instance (or sysadmin if you are lazy and frustrated). Specify a new managed account for the service applications (For Dev I ended up using the same SPFarm account). Once you bring up Central Admin, then create the root site collection.
It will be named with a GUID and is hosted by an Application Pool (which is also named with a GUID! It hosts a couple of WCF services (profileproperty and profiledbcache). The Service Application Endpoint has three associated back end databases and other configuration.
Pages for managing the Service Application are hosted in Central Administration and are called using a GUID in the query string.
Set the value for all the keys as "0" to disable FIPS.
 content database(s) still need upgrade or cannot be upgraded. Additional exception in formation: The EXECUTE permission was denied on the object 'proc_Get Product Versions', database 'Share Point_Config', schema 'dbo'.
I have a follow up article which also details the most common problems with configuring profile synchronization, which may help.
“Stuck on Starting”: Common Issues with Share Point Server 2010 User Profile Synchronization An IIS Application which sits in the Share Point Web Services IIS Web Site. When we start the Service Machine Instance later, the IIS Application will be created.
HKEY_LOCAL_MACHINE\SYSTEM\Current Control Set\Control\Session Manager\Pending File Rename Operations - if the Pending File Rename Operations Registry key has any value you will see this message.
To remove an orphaned Update Exe Volatile registry key value Failed to register Share Point services.