Delete your whole .minecraft folder. Obviously copy any mods, texture packs, etc before you do. Then just make sure you have the latest Minecraft launcher. Run the default 1.7.2 first then install the latest 1.7.2 forge (http://adf.ly/673885/http://files.minecraftforge.net/maven/net/minecraftforge/forge/1.7.2-10.12.1.1065/forge-1.7.2-10.12.1.1065-installer.jar). Run the forge profile once and then copy any mods etc back into .minecraft
That's what I did and it works. I'm pretty sure the Minecraft launcher updated when I run it so maybe that's messed it up.
damn, its just not wanting to work for me for some reason, still getting the "libraries failed to download"