I like badrobot's workaround if your router has wifi. If it doesn't, try this:
Uninstall all of the Canon software package, delete any printer that might have been created by the install process (even if it is some unknown generic placeholder), and delete any other devices created by the installation (e.g., scanner, fax, etc.). If this printer is a replacement for another Canon printer, uninstall that one and its software the same way.
Most printers have some way to do a self test (usually involves holding down a button while powering it on). Do a self-test if you can to verify that the printer is not defective. If there is no self test, there is often a way to print an internally-stored sample page. If it can't do that, at least power it on and see if it goes through a startup cycle. This won't verify that the interface is working, but at least you will know that the problem is not a dead printer.
Get a different USB cable (they are cheap and on the chance that the problem is a bad cable, this will solve that issue).
Reboot your computer in safe mode with networking and see if the installation will work (they don't always work in safe mode but it is the cleanest way to do it if you can). If safe mode doesn't support the installation, uninstall anything loaded during that attempt. Then, reboot your computer, temporarily disable your anti-virus software, and redo the installation before you open any applications. You might even want to use msconfig to suppress loading anything that isn't part of Windows.
If the installation doesn't work under these conditions, there is something else going on.