Need to know a bit more about the P4 machine that won't run PhotoDelux. Also Win2K, I assume. Check in Task Manager to find out what else is running. You may have a "leaky app". Is your Firewall blocking PhotoDeluxe?
Ah, the dreaded System folder on startup!

I lived with that in almost identical circumstances after an unsatisfactory installation of EZ CD Creator. That's when I went to Nero.
And now I'm having trouble remembering how I got rid of it. I think that there's a call for "Rundll32.exe" in the Registry but that there is no DLL specified. Again, check Task Manager just after start up and see if Rundll32.exe is running. Then go through the Registry with fine tooth comb looking for the culprit. That'll keep you amused for hours on a wet Sunday afternoon.
Or reinstall Windows.