Update : Same issue with .98. 

Error files available at:

https://dl.dropbox.com/u/101914071/FallenEnchantress0_980-2012-09-21T01-04-32-160.zip

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All versions of FE prior to Beta 4 have worked without issue on my machine. All Beta 4 builds (.950, .951 and .952) will not launch. The opening splash screen will appear, the "stardock" opening movie will start to play, then a windows "failed to launch" dialog comes up. The opening movie will continue to play in the background, until I hit the confirmation button on the dialogue box. I've tried the update and full versions of each Beta 4 release with the same results. I've also tried disabling the intro in the prefs file, but still get the same result.

Error files available at:

https://dl.dropbox.com/u/101914071/FallenEnchantress0_952-2012-08-31T09-09-42-838.zip