Well, I used to run CoH in XP sp3 32 bits and didn't have problems, but have you installed CoH or just using a backup of the CoH folder?
Are you sure you have:
* Microsoft DirectX routines.
* Microsoft .NET Framework 1.1
* Microsoft .NET Framework 2.0
* Microsoft Visual C++ Redistributable 2005
* Microsoft Visual C++ Redistributable 2008
Other than that, I don't know what to suggest.