I have located the problem. (I hope permenantly)
I reinstalled the program since I realized that I got the same problem even though I loaded just a cube and a start position.

After the installation I saw the 'key' in the readme that shows up AFTER THE INSTALLATION (Why is such an important note placed after the installation).

Here is part of that message:
"For Windows Vista we recommend to install Gamestudio and all projects to the Documents folder and not to the Program Files folder. The Program Files folder has the disadvantage that access rights to it are restricted under Vista. If you want to install it to the Program Files folder nevertheless, take care that you run all unlock or update programs as administrator."

I am using Vista.
I did as recommended.
Now my applications run fine. Even some of the samples that didn't run before.

Perhaps there are other Vista users out there having the same problem I had. Perhaps that clause in the readme should be broadcasted.

Anyway, I am happy that I got my builds running. I hope I don't encounter some other strange event, or surprise anymore.