Update on using MikTeX 2.9, ConTeXt MKIV, Winedt 6.?!!!

First let me thank Mojca, Aditya, Ulrike and Hans for looking into this.

I received a suggestion to remove Miktex Full and install Miktex basic. That
did NOT work as I like lucida and lucida math which will not function
correctly using Miktex basic. So here is what I did to make it all work:

1. uninstall Miktex 2.9 basic
2. Install Miktex 2.9 complete
3.Go to Miktex\doc\latex\circuitikz and rename context.tex some other name.
For some reason known only to Christian Schenk Miktex searches until it
finds that sample and attempts to use it. So renaming that file allows
luatex to "kick in and start processing".

Finally success!

now all I need to do is figure out how to invoke bibiliographies in MKIV
using bibstyle econometrica.

Thanks to all!!!