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The bb.inf file that comes in the download here has extra parts that make it fail to run.

I think someone mentioned this, but open the bb.inf file. If you delete the D:\ and all the space between it and the C:\Blood\ part, then remove the space and blocks after it, it runs. Basically, the "C:\Blood\" should be the only thing in the file. I guess they might have been left over from the game that this download was taken from.

Hope that helps.