XP is updated. This error just happened out of nowhere, I did no changes except maybe install other programs since the last time Steam worked. I also tried running in all Compatibility Modes, and with Compatibility Mode turned off, and Steam would either not load, or I got the same error.
Uninstalling Steam doesn't necessarily remove all of it from the Program Files/Steam folder. Make sure that Steam folder is deleted if you want to do a fresh reinstall. Of course, you will have to download all of your Steam programs again.
I actually had an open ticket with a Valve representative, though he isn't the one who fixed it. I gotta say, I am impressed with Valves customer support.
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