There is also an alternate solution for those who aren't afraid of using hex editors (e.g. XVI32) [thanks to Trevor for this]: in the unpacked 1 installer executable (jdk-8uXX-windows-i586.exe in case of JDK) simply replace all occurrences of RegDeleteKeyExA (the name of API found in "new" ADVAPI32.DLL) with RegDeleteKeyA (legacy API name), followed by two hex '00's (to preserve padding/segmentation boundaries). The installer will complain about unsupported Windows version, but will work nevertheless.
For reference, the raw hex strings will be:
52 65 67 44 65 6C 65 74 65 4B 65 79 45 78 41
replaced with
52 65 67 44 65 6C 65 74 65 4B 65 79 41 00 00
Note: this procedure applies to both offline (standalone) and online (downloader) package.
1: some newer installer versions are packed with UPX - you'd need to unpack them first, otherwise you simply won't be able to find the hex string required