Ok. before we get ahead of ourselves here, the FAQ says this works on a fresh install. If you have mods, this might or might not work. There's also the issue of having a mod having modified tables, and therefore the game will kick you out because of the modified tables in the mod. I don't know if this has been fixed yet. Your BEST bet is to NOT use the installer, rather just follow the instructions in the FAQ, on a clean, fresh install of FS2.
Pretty much here, we're putting the FSO executable, plus launcher in to run the base content, without MediaVP's, etc. It will simplifiy the process to find out exactly what's not working right.