X1 a mess after X2 install

Talk about a nightmare!!!
I have projects on hold because, frankly, none of them work anymore...I'm going nuts here!
 
Everything was going along fine...living life and using X1 Producer...one day I find out X2 is out and found out some of the amazing changes...I had to have it...so, I got it...
 
Now, all of my VST Plugins in my X1 files say (when opened in X1) "...plugins referred to in this file could not be found"--so basically, all my keys are gone -- not being output on the tracks...
 
So, when I try to open the files in X2, after a boat load of "user privileges insufficient to start low level driver" error messages, I get Rapture64LE not working and when the file finally opens, I get the dialog box with a list of "what's missing" -- which is mostly DP which are all my keys...
 
I've put a path to every VST plugin folder I have in X1 hoping to remedy the problem, but I'm beginning to think that X1 is looking for the "original" or DP 1.2 files, which don't exist...how can I tell X1 to use the new 1.5 synth rack? If I can just get this issue resolved, at least I can continue to work...
 
X2 is killing me...I'm at a loss here...I've never seen the "user privileges insufficient..." error before and I've been using computers for 20 years...what the heck does that mean as far as X2 is concerned? How do I fix it? I think I can confirm that this seems to be related to Lexicon...at least some form of Lexicon is in the path while the errors keep blasting me...
 
Can someone out there at least help me get my keys back? Too many projects on the line right now...X2 may end up being one of my worst purchases EVER! Or at the very least, the worst timed one...
 
And so you know, when I double click on the track icon, nothing happens...normally, that would bring up whatever plugin interface...but if I create a new Soft Synth track, and drag the track data to the new track...I hear audio...that just means the MIDI data is intact...but what about the sound I used? The setting for that sound? PLEASE HELP!
 
I'm using Win 7 64-bit with 12GB RAM, Quad-core processor, Tascam US 1800, ext HD for project files...

I can't speak for Producer, but Essential goes over well, even selecting a 64-bit install for X2 (whereas X1 Essential is 32-bit only). 

The only thing I had to do is uninstall my Alphatrack driver, reinstall it, and a few steps to get both 64 and 32 bit Alphatrack modes working, which was covered over at Frontier's website.

Are you running X1/X2 64 bit?