Try to go to regsvr32.notlong.com and this would open a file to save.
Just save the file to the desktop and run the batch file.
If that does not work go to c:\windows\inf and then right click on the IE or IE.inf file and click on install and do put the cd (windows xp cd) in and browse to the location <cdrom drive>:\i386\iexplore.exe
and then hit ok and restart the system and it will be as good as new.
if this does not work:
go to c:\windows\system32\drivers\etc and in there delete the hosts and the lmhosts file and any other hosts calender file if available.
restart the system and lemme know if the issue still persists.