EDIT: Disregard this, it would seem I missed a step on the 4. 91 install.
XP SP3
In addition to the error at game start (Form Load, 76, Path not found) I get errors and a crash when trying to open System Information F9. The errors are "cboControlRace, 76, Path not found: 'Planetjpeg\ha3. jpg'" 10 times, "cboControlRace, 76, Path not found: 'Planetjpeg\b13. jpg'" 1 time, the first error 3 more times, and then "Aurora, 76, Path not found: planetjpeg\ha3. jpg'" one time. What I assume is the frame of the Sys Info window flashes on screen and then the game just goes away.
I also get errors when opening the Galactic Map F11, though no crash. There errors alternate between "Form Load, 76, Path not found: 'Ships/EnterpriseA. gif'" and "LoadRaceData, 53, File not found: 'Flags\'" about half a dozen times. The window opens and draws after the first error.