IMHO, KB307545 is a very risky procedure. Part 1 begins by restoring the original registry when Windows was first installed and then attempts to boot from it. If you've installed the three service packs plus the uncountable updates that have occurred in the past decade, the chance that this old registry will boot your current system is marginal at best. IMHO, KB307545 might have worked when XP was young, but is not to be trusted now.
The fastest and quickest way to recover a corrupted system registry is to create a free Hirens Boot disk by downloading a .iso file and using your computer burner's "Burn Image" feature to more-or-less instantly create a bootable CD filled with diagnostic programs -- including "Registry Restore Wizard" which will recover your system registry PDQ. -- None of the complicated steps of KB307545 required. See one of my earlier posts:
HTH,
JW