Hi,
No problem
Windows needs to be updated (this is related to proper libraries placement).
In Windows 7 (and Vista afaik) usually updates pop up automatically, if they don't, then please click on Start and right above the Start you have an empty search field. Just type "windows update" in there and you'll have it found.
In Windows XP, you need to click on Start and there you have the Windows Update option. If you haven't been updating it for a long time, that means you may have a lot of updates to download.
To be safe, you could also update graphics driver (depending on what you have, you'd need to go to Nvidia, ATI, Intel or other website and download latest drivers). However, as I see, the issue is rather not related to the drivers.
Then you'd need to clear situation with different Microsoft Visual versions. To do that, please enter Control Panel (Start --> Control Panel) and then please enter Add/Remove Programs. Most likely, you'll have a lot of different Microsoft Visual versions installed. You could uninstall those. It should help.
However, sometimes when a lot of software was installed onto the system, it may work incorrectly and - since many games use Microsoft Visual - the games may work incorrectly or not work at all, becuase MV is a software that conflicts one version with another. The best solution then, although not welcome certainly, would be to format the disc and start a fresh system.
thx