I had the same problem trying to update Context with 'first-setup.bat'. I
saw that there was a file kpathsea60071.dll in context/tex/texmf-mswin/bin.
So then I copied it to context/bin and it worked again.

Peter van Hoeflaken

2010/8/26 Florian Baudach <florian.baudach@googlemail.com>

>  Hi,
>
> after solving my problems with the minimals with Linux, I have now a
> problem with the Windows version.  :-(
>
>
>
> My boss allowed me to use ConTeXt for a book project  :-), unfortunately
>
> we work here with WinXP and the first-setup.bat fails with the following
> error:
>
>
>
> mtxrun.exe – Komponente nicht gefunden (mtxrun.exe – component not found)
>
>
>
> Die Anwendung konnte nicht gestartet werden, weil kpathsea60071.dll nicht
> gefunden wurde. Neuinstallation der Anwendung könnte das Problem beheben.
>
>
>
> (Couldn’t start the application. Couldn’t found kpathsea60071.dll. A new
> installation of the application could solve the problem.)
>
>
>
> I have installed ruby first. What could be wrong?
>
>
>
> Greetings
>
> Florian Baudach
>
>
>
>
>
>
>
>
> ___________________________________________________________________________________
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> the Wiki!
>
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>
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>
>