I am having the same problem.
It doesn't sound like it, from your description.
Jet Error -1811 ... File not found
Have you perhaps moved your store folder from its default location? The instructions won't work if you have.
esentutl.exe -d "%userprofile%\AppData\Local\Microsoft\Windows Live Mail\Mail.MSMessageStore"
Reposting:
This solution has been posted dozens of times, but so far as I'm aware not once has it solved the problem. It doesn't repair the file mentioned (that takes a different set of commands), and many of those who try it find that the program won't start at all after completing it.
Rather than tacking a question on at the end of an old thread, it would be much better if you used theAsk a question option on the Participate menu on this page to start your own thread about your problem. Please give as many details as you can about what's going wrong, and be sure to give your program version and your operating system when you do. You can see the program version by pressing Alt-F B when viewing your inbox.