HELP! "Windows XP could not start because...."

I'm getting a "Windows XP could not start because the following file is missing or corrupt: \WINDOWS\SYSTEM32\CONFIG\SYSTEM" error message.

With the Windows Setup disk I tried running the repair console but when prompted to select which Windows installation to log onto I select the correct drive and I get the BSOD that says ...."Windows has been shut down to prevent damage to your computer REGISTRY _ERROR". I'm stuck! I can't even get into SAFE MODE.

Please Help! Thanks in advance.

 

You should boot from your XP installation CD and do a repair install.
This should rebuild your operating system (XP) without altering your programs or files.

 

When I get to the Windows XP Recovery Console prompt and select which windows installation that I want to log onto for recovery I select the correct drive.......... and I get the BSOD that says "Windows has been shut down to prevent damage to your computer REGISTRY _ERROR

 

You do NOT want the recovery console.
Do a Repair Install instead.
Instructions for doing a repair install (on any version of XP) can be found :
http://www.michaelstevenstech.com/XPrepairinstall.htm
A more concise, but not as informative, XP repair guide is available through Microsoft:
http://www.microsoft.com/windowsxp/using/helpandsupport/learnmore/tips/doug92.mspx