with the original patched exe I got this error message in the system.log :
20:48:23.472 [system.rpt] [always] CPU: SSE2
20:48:23.482 [system.rpt] [always] ==== system log start, build date: Apr 23 2007 version bld-medieval2-update2-84 (37970) ===
20:48:23.502 [system.io] [always] mounted pack packs/data_0.pack
20:48:23.502 [system.io] [always] mounted pack packs/data_1.pack
20:48:23.512 [system.io] [always] mounted pack packs/data_2.pack
20:48:23.522 [system.io] [always] mounted pack packs/data_3.pack
20:48:23.522 [system.io] [always] mounted pack packs/data_4.pack
20:48:23.532 [system.io] [always] mounted pack packs/localized.pack
20:48:26.176 [data.missing] [warning] missing/invalid cursor for ANISELECT
20:48:26.196 [data.missing] [warning] missing/invalid cursor for MODIFIER_SABOTAGE
20:48:26.216 [data.missing] [warning] missing/invalid cursor for MODIFIER_TRADE
20:48:26.246 [data.missing] [warning] missing/invalid cursor for DRAGGABLE
20:48:26.246 [data.missing] [warning] missing/invalid cursor for DRAGGING
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_MULTIPLE_SELECT
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_ATTACK
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_CHARACTER
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_RESOURCE
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_FORT
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_MOVE_OBJECT
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_WATCHTOWER
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_DEPLOYMENT_AREA
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_TILE
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_SPECIAL_PIECE
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_PAINT
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_ADJUST_HEIGHTS
20:48:26.256 [data.missing] [warning] missing/invalid cursor for MODIFIER_ADD_UNIT
20:48:26.266 [data.missing] [warning] missing/invalid cursor for MODIFIER_PLACE_SETTLEMENT
20:48:27.868 [system.io] [warning] open: :Ìæ?víI@Ÿ�‰@ is missing
20:48:29.160 [system.rpt] [error] Medieval 2: Total War encountered an unspecified error and will now exit.
before the patch had been installed it worked fine...
could you post your system.log.txt here ? it would be great