Administrator Problems. Please help.

Hello,

I am having a strange problem with Win XP home. I am the
administrator on my computer, as there are no other users
on the system. However, I am unable to open the command
prompt throught the icon in the start/programs menu, or
by using run "cmd." It gives me the error message as
follows:

Windows cannot access the specified device, path or file.
You may not have the appropriate permissions to access
the system.

This problem is not limited to just the command prompt. I
am also unable to access some of the control panel
options either.

Win XP came preinstalled with the computer with an
adminstrator account. I used that account to create a
second administrator account, and deleted the original
one. I'm not sure if that is the cause of my problems or
not?

Does anybody know of anyway to fix this problem other
than a full reinstall? If you have any ideas, please
contact me via e-mail or this newsgroup. Any help would
be greatly appreciated.

Thanks in advance.