Shad, maybe we should go back to the beginning and start again. We now know that you're using Win XP, but in your original post you say something about "not buying version 2", which is a little confusing to me. So... Is this PSE 2 that you've installed from a retail CD, is it PSE 1? Is this the demo download? At what point do you get this error message? Did the software completely install? Are you getting the error while Elements is trying to launch? Are you getting the error message while trying to perform a certain task?
I certainly can understand your frustration, but if you want help, you've gotta give us a little more to go on!